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  1. Home
  2. / Investing
  3. / Energy

Can Trump Ignite a Coal Stocks Comeback?

Here's what the charts say on the beaten-down group.
By BOB LANG
Aug 20, 2018 | 02:00 PM EDT
Stocks quotes in this article: KOL, ARCH

Are coal stocks about to heat up?

President Trump will be talking about coal on Tuesday and if there is some positive vibe there could be a temporarily bump in the commodity. In turn, the small group of coal stocks may get a bid through some price resistance.

However, overall, the trend is still down for this beaten-down group.

While you may think the low is in, that could have been said for months, as the group (look to the VanEck Vectors Coal ETF (KOL) ) has made lower highs and lower lows.

That is a downtrend, my friends. And lest you think you can catch a falling knife, that is a tactic I completely disregard.

Going back some years, the coal group was slaughtered during a time of heavy regulation and shift to alternative sources of energy. As a result, a slew of bankruptcies hit, and only a few survived after reorganizing.

One of the survivors is St. Louis-based Arch Coal (ARCH) , which actually has a decent technical setup. Nevertheless, we would step back here as many of the initiatives started by the president have eventually resulted in a "pop and drop."

The tariffs are a big issue with commodity companies, and coal is no question in the eye of the storm.

We would take a wait and see approach with this group before moving to get long, as policy directives may not be as positive as those would hope.

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At the time of publication, Lang had no positions in the securities mentioned.

TAGS: Investing | U.S. Equity | Regulation | Markets | Energy | ETFs | Funds | Politics

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