ARLP - Long Trade Idea

Written by MrStockFox. Posted in Trade Ideas

I have spoken a little about coal in my weekly purchases but want to show a chart of ARLP tonight.  You have two forms of support converging on the monthly chart, as well as, very oversold readings on the weekly RSI.  Typically the stock has bottomed when we see such levels on the RSI.  I have initiated a starter position and plan to add to it.  Even with the down turn in coal over the last several years, ARLP has continued to raise its dividend and has more than enough coverage with coal at current prices.  I am long.

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