Last Thursday, Arch Resources, Inc. (ARCH) came to my attention when the stock sold off after an earnings announcement on July 28 (arrow) but then found support during the week that followed, writes Ian Murphy of MurphyTrading.com.
It also printed a bullish divergence on MACD-H and ATR channels—a good sign!
Click the chart to enlarge
The entry was missed last week because I’m on a semi-vacation, so I will try to get an entry in today’s session. As a daily swing trade, the initial protective stop and targets are shown in the pop-up window.
Learn more about Ian Murphy at MurphyTrading.com.
