Tomorrow, we’ll kick off the week with a pre-market earnings report from Halliburton (HAL). From a swing standpoint, the daily chart is extremely attractive and a good report could propel HAL out of its bull flag just above horizontal support. Energy stocks have been relatively strong lately and I think we’ll see impressive earnings from HAL and others considering oil prices were over $100 during a good span of Q2. NOTE: make sure you know when these companies report so you’re not over exposed into their announcements.
Other energy stocks technically favorable:
BHI – nice consolidation pattern looking to setup for a move out to the upside.
HLX – trading range is tightening up with strong horizontal resistance just above. Looks good for possible break on backs of strong HAL earnings.
RES – not a beautiful chart, but work keeping on the radar.
NBL – looking for continuation out of channel. Nice volume on Friday.
CRK – Big move on Friday. Ideally, would like to see a little pullback and prove horizontal support before leg up.
CPE – I like this chart. Strong sma200 support.. a move through 7.25 could open the doors.
WTI – watching bull flag for breakout and test of highs from April.
EP – a great looking chart from a stock that spends very little time under sma50. Nice triangle breakout watch.
Others to consider:
APC at $81
COG over $59
AXAS over sma100
CLR over $70