Some Energy Stock Thoughts

Today we saw a strong bounce back in oil as crude appears to be putting in a base around $90/barrel.  Today’s move doesn’t mean that oil is headed over $100, but the sectors are worth watching.  I mentioned a handful of stocks last week and many of those trades have moved up nicely and others are still setup.

From a technical standpoint, the ETFs look really good: OIH and XLE.

OIH top components: SLB,BHI,HAL,RIG,NOV,NE,WFT

Nice falling wedge with the MACD, Stochastics, and MFI all attempting to bottom and turn back up.  The major concern is the downward trending MA50.  A move out of the top of the wedge and through MA50 will confirm oil is strong again.

Others to watch

CPX through sma50

TTI has a little way to go before it gets to sma50, but it also represents descending trendline.. one to watch at those levels.

SPN over sma50 out of symmetrical triangle

Read moreSome Energy Stock Thoughts