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WIKI ANALYSIS
James River Coal Company (JRCC), another of the coal stocks in a hot bull market, has been a stock to watch since late March, 2008. Since then, it has been steadily increasing in health in comparison to the other stocks in the market, and as of early June, 2008, the big money crowd (institutional investors) has joined into the game and has started buying shares.
Technically, the stock has some work to do before it becomes a sound investment. Currently, the 50-day moving average is at $37.19 (far below its current level), which means that the stock would need to at least pull back to that level or base [move sideways] in a tight trading range until the moving average catches up with the stock BEFORE one should even consider investing in this stock.
At the same time, it appears that there is massive churning of the stock, and that the stock has been in a basing pattern since mid-June. It would be a bullish thing for the stock to break above $62.95 on high volume.
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