Sunday, July 26, 2009

CONSOL Energy Inc. (CNX)

I see several positives on the chart for CNX including a positive moving average crossover, positive MACD, a cross above the 50 day exponential moving average, and what looks to be a reverse head and shoulders. As a caution, however, the reverse head and shoulders has not yet completed and there is resistance around $36. I am watching to see how the reverse head and shoulders pans out as well as how the market deals with the resistance. Definitely worth watching for me.

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