This autumn would be long remembered in the market as crude, coal and natural gas prices jumped simultaneously to their several year highs.
European Union is planning to expand its move towards green energy to become carbon neutral by 2050. However, to change the world as we know it is hard to do at once. Meanwhile, prices of traditional sources of energy such as coal, gas and crude are making new record highs. According to the BP plc estimations, green energy contributes only 5-6% to the global energy production, and it would extend its share to 45% by 2050.
Europe is facing significant gas reserves shortages ahead of winter season as the reserve facilities are only 20% full. This could be enough for the ordinary mild winter, but weather forecasts predict winter temperatures to dive below winter climate normal. In the situation of soaring gas prices to enormous $1076 per cubic meters European energy producers are turning to coal as a fuel for energy production.In this situation traders may get some extra profit not only from crude, gas and oil trading, but also from trading of energy stocks.
Consol Energy could be one of such stocks. Stocks closed at $26.02 on Thursday with gains of 13.97% for the last month, and are rising for fifths consecutive month. Market cap of the company jumped by 196.35%. Seems yummy, isn’t it?
The trend of decline share of coal in energy production is likely to continue in mid-term perspective. So, we may expect an upside trend for Consol Energy stocks to continue too.
Moreover, its shares are far from their all-time highs at $47.35 and $48.12 that were recorded in 2018. Considering these levels we may have an 80% upside potential.A strong upward trend it Consol Energy stocks continues with the current support level at $23.40-24. Fast moving average EMA55 is duplicating this support level on daily timeframe chart at $22.50. Any correction to these levels it is worth considering to join the rally with acceleration of it if the prices moves above $28.26, a September 13 high.Considering exposure/profit ratio, such buy position looks quite attractive, so it is worth to use such opportunity. Traders may also consider other coal industry companies’ stocks such as Peabody Energy Corporation and Alliance Resource Partners for possible trading operations.
European Union is planning to expand its move towards green energy to become carbon neutral by 2050. However, to change the world as we know it is hard to do at once. Meanwhile, prices of traditional sources of energy such as coal, gas and crude are making new record highs. According to the BP plc estimations, green energy contributes only 5-6% to the global energy production, and it would extend its share to 45% by 2050.
Europe is facing significant gas reserves shortages ahead of winter season as the reserve facilities are only 20% full. This could be enough for the ordinary mild winter, but weather forecasts predict winter temperatures to dive below winter climate normal. In the situation of soaring gas prices to enormous $1076 per cubic meters European energy producers are turning to coal as a fuel for energy production.In this situation traders may get some extra profit not only from crude, gas and oil trading, but also from trading of energy stocks.
Consol Energy could be one of such stocks. Stocks closed at $26.02 on Thursday with gains of 13.97% for the last month, and are rising for fifths consecutive month. Market cap of the company jumped by 196.35%. Seems yummy, isn’t it?
The trend of decline share of coal in energy production is likely to continue in mid-term perspective. So, we may expect an upside trend for Consol Energy stocks to continue too.
Moreover, its shares are far from their all-time highs at $47.35 and $48.12 that were recorded in 2018. Considering these levels we may have an 80% upside potential.A strong upward trend it Consol Energy stocks continues with the current support level at $23.40-24. Fast moving average EMA55 is duplicating this support level on daily timeframe chart at $22.50. Any correction to these levels it is worth considering to join the rally with acceleration of it if the prices moves above $28.26, a September 13 high.Considering exposure/profit ratio, such buy position looks quite attractive, so it is worth to use such opportunity. Traders may also consider other coal industry companies’ stocks such as Peabody Energy Corporation and Alliance Resource Partners for possible trading operations.
