Peabody Energy, Inc. is the world’s largest privately held coal corporation. It mines, sells, and distributes coal to important markets such as power generating and steel production. The corporation was founded in 1883 and is headquartered in St. Louis, Missouri. It can be traded on the New York Stock Exchange under the symbol $BTU because it is part of the Russell2000 index. We are currently seeing continued price appreciation in energy commodities such as oil, gas, uranium, coal, and others. As a result, coal mining companies are likely to rise in value. As a result, energy sector investors can diversify their portfolios by investing in the world’s largest private coal miner.
The Peabody Energy shares $BTU traded on the New York Stock Exchange are shown in the weekly chart below. First, in blue wave (I) of super cycle degree, the stock price has established a higher cycle. It reached an all-time high of 47.84 in June 2018. As an Elliott wave zigzag pattern, a correction lower in blue wave (II) has unfurled from the highs. In November 2020, it printed a significant bottom at 0.80. After fact, in only 2.5 years, the stock price has lost 98 percent of its worth.
A new wave (III) cycle has already begun from the November 2020 lows and should stretch to 47.84 highs and beyond. Then, for wave (III), the goal will be in the 48.53-78.07 range, or perhaps higher.
The daily chart below depicts the price action of $BTU shares in greater depth. The stock could be in the early phases of the blue wave’s red wave I. (III). There is now a nesting action visible. The black waves ((1)) and ((2)) are no longer active. Wave ((3)) is in progress while the price is above 2.61. As a result, blue wave (1) is being adjusted lower within wave (2). Then, in wave (3) of ((3)), look for additional gains.
Peabody Energy gives a tremendous chance for investors to enter the coal mining business at current prices. In the long run, one should look to buy pullbacks from extremes in 3, 7, 11 swings, expecting the stock to reach 48.53-78.07 and much higher./n
