ANR 60 min Oct 16th
The ANR aggressive long trade setup that was posted yesterday triggered an entry on a break above 2.04 today. Official targets have been added just below the same resistance levels shown on yesterday’s 60 minute chart. T1 is the sole target at this time but additional targets may be added. The suggested stop if targeting T1 would be just below the 2.04 former resistance, now support level. Updated 60 minute chart below. I also wanted to reiterate that ANR, like many of the recently mentioned US coal stocks, has the potential to morph into a much longer-term, bottom play, should we get sufficient evidence of a bottom in these stocks. Therefore, an aggressive longer-term trader or investor could certainly start scaling in here with a stop below the recent lows or depending on their average cost basis as they continue to scale in (my preference would be to only continue scaling in if the recent lows are not violated).