The listed company would be called Cloud Peak Energy and house most of the North American coal assets of Rio Tinto Energy America, the second largest producer of coal in the United states.
Rio Tinto said it expected to make a final decision on a potential listing, or to pursue another form of divestment, once these options had been more fully explored. Credit Suisse is the lead underwriter for the planned float.
Both the weekly and daily charts below show RTP is currently oversold. The stock prices have been slumped by about 36 percent from its peak on May 2008. A slump more than 20 percent indicates that the stock is currently in bear territory. But as a contrarian, while the stock prices are oversold, it's confirmed by the W%R and RSI indicators, it should be considered as an opportunity to go bottom fishing. But you must also be careful, because if we don’t we will catch some falling knives instead.
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