ANR - the perfect bear flag

Alpha Natural Resources (ANR) has been suffering greatly, along with the rest of the mining/Coal sector for many months. The recent problems with a (possibly defaulting) customer of Patriot Coal (PCX) have only added to the concern that its seemingly impossible to make money in the mining sector.


ANR, daily

Summary

From a chart perspective, that is one perfect bear flag. We're now at the daily 10MA, a break lower..first target would be the big $10 level. That is no historical precedent for these low levels in ANR. Might ANR become a 'penny share' , sub $5 stock this summer? That would seem very viable is sp'1100 with even lower commodity prices.

ANR is certainly something to watch in the months ahead.