Walter Energy Surges 18%

Shares of Walter Energy, Inc. WLT appeared to be squeezed higher Thursday as the stock surged over 18 percent.

The stock had fallen over 45 percent in the past week with short interest at more than 55 percent.

Traders began to buy the dip Thursday as the stock saw support at the $1.70 level but resisted breaking through the $1.80 level in early trading.

By 11:04 AM EST the stock broke through the $1.80 level and continued higher until finding new support at the $2.00 level after 12:36 PM EST.

By 3:10 PM EST the stock headed in to the close at $2.00, up 16.96 percent.