Are the Bears Taking Control over Peabody?

New York, May 23rd (TradersHuddle.com) - Shares of Peabody Energy Corp (NYSE:BTU) ended the trading session lower by $0.76 or -3.07% from its previous close. Peabody's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Peabody Energy Corp. (NYSE:BTU) principal activities are mining, preparation and sale of steam coal, sold primarily to electric utilities and metallurgical coal, sold to steel and coke producers. The company