New York (January 2nd, 2012) - Walter Energy Inc. (NYSE: WLT), a producer and exporter of metallurgical coal for the steel industry mainly in the U.S., is extending its gains from Monday in mid-day trading today. WLT had finished more than 6% higher on Monday. The stock rallied on Monday, tracking gains in the broad market.WLT is currently trading 1.14% higher at $36.29 on volume of 1.19 million, which is well below the daily average volume of 3.44 million. WLT had bounced back from $34 support level on Monday. The stock is now approaching $37 resistance level. If WLT breaks through this level then the next resistance level will be at $38.
Suntech Power Holdings Co. Ltd. (ADR) (NYSE: STP), a solar energy company engaged in the design, development, manufacturing and marketing of photovoltaic (PV) products, is soaring in mid-day trading today, extending its gains from the previous trading sessions. STP is currently trading 4.64% higher at $1.60 on volume of 4.04 million, which is well above the daily average volume of 2.80 million.
STP has finished higher in each of the previous five trading sessions. The stock has been gaining momentum after the company last month announced that its modules passed in desert simulation test. Last month, STP also announced a 25MW sales agreement in Romania.
STP is currently trading at $1.60 resistance level. The upward trend will continue if the stock can break through this level.
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