RIG (Transocean, Inc.) is looking good right now. We've got a support converging at both the breakout point and the 50 day moving average. My only concern is there doesn't look to be heavy accumulation right now. Still, it might be a good low risk play here.
SWN (Southwestern Energy Co.) has been trending and shows a nice accumulation pattern.
DNR (Denbury Resources, Inc.) is the most "iffy" of the group. The trend has been up and down, but if you can catch the right bounce, it has been profitable. It's pulling back to the 50 day moving average.
APA (Apache Corp.) has been trending along the 50 day moving average and shows decent accumulation.
ARD has been digesting some major gains, but could be a nice play around the 50 day moving average.
I see some low risk, high reward plays here, as long as the entry is timed correctly.
2 comments:
how about oxy?
Tony
oxy has 50 sma support but recently its doesnt show good accumulation pattern, more it shows distribution pattern. Watch the support.
Just my two cents.
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