small reuters article from today

MIDCAP-Australia's Coalspur Mines trades near key support levels

Wed Feb 22, 2012 12:52am EST

Feb 22 (Reuters) - Shares in Australia's Coalspur Mines Ltd are trading near oversold levels, with technical charts pointing to a likely reversal.

The coal exploration company's stock is trading close to its support level of A$1.52 and has reversed from this level previously. It has been trading in the A$1.93 - A$1.52 band since early November.

The stock's Williams %R indicator, a momentum tool measuring overbought and oversold levels, is at 84. A level above 80 indicates oversold levels, while a reading below 20 suggests overbought levels.

The Relative Strength Index, a momentum oscillator, is close to oversold levels of 37. However, a break below A$1.52 could push the stock down further to A$1.45 levels.

Year-to-date, the stock has underperformed in a broader market up about 6 percent.

For a technical chart, click: link.reuters.com/qud76s
(Reporting by Rajesh Chandnani; Editing by Sunil Nair)

http://www.reuters.com/article/2012/02/22/midcap-coalspur-idUSL4E8DM21W20120222