Long Position on CEIX @ $61.70 on 7/27/2022 (Momentum)

CONSOL Energy Inc. (CEIX) produces and exports bituminous coal in the United States. Stockwinners

It operates through PAMC, CONSOL Marine Terminal, and Other segments.

The company engages in the mining, preparation, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users; and provision of coal export terminal services, as well as development of the Itmann Mine and the Greenfield reserves.

It owns and operates the Pennsylvania Mining Complex (PAMC), which includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the Central Preparation Plant; and CONSOL Marine Terminal located in the port of Baltimore.

As of December 31, 2021, the company had 612.1 million tons of proven and probable coal reserves at PAMC. It also owns approximately 1.4 billion tons of Greenfield reserves located in the Northern Appalachian, Central Appalachian, and Illinois basins. 

On May 3rd, CEIX reported 1st Quarter March 2022 earnings of $2.08 per share on revenue of $358.5 million. The consensus earnings estimate was $1.90 per share on revenue of $375.1 million. Revenue grew 4.8% on a year-over-year basis. The Company reports August 4th next. 

Shares have formed a bullish "cup and handle"and or on the cusp of breaking higher. 

Entry Point:  $61.70

Stop Loss: $58.25

Trading Range: $19.11 to 63.43

Target Price: $67.80

Position closed on 8/11/2022 at price of $68.50 with a 11.02% gain in 15 days.

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