There are lots of energy stocks flashing buy signals with regard to a change in trend.
Using CRK as an example, note how the Stochastic was oversold (under the 20 line) and has now crossed up and over, flashing a buy signal.
The MACD is also confirming the buy signal with the thick black line crossing up and over the thin blue line.
Volume is above average which is also bullish. Any weakness in CRK on Monday is a buy based on the indicators.
stockcharts.com[h,a]daclyiay[pb50!c20!f][vc60][iut!Lh14,3!La12,26,9]&pref=G
GRP I believe received an upgrade and is flashing the same buy signals.
stockcharts.com[h,a]daclyiay[pb50!c20!f][vc60][iut!Lh14,3!La12,26,9]&pref=G
Other energy stocks with similar buy signals are:
NBR, XLE, MRO, MUR, NOI, THX, TOT, VLO, EPEX and XOM.
Some are on weak volume, others on strong volume.
In any event, they seem to be operating from a position of strength as opposed to weakness. A drop of 2-3% of Friday's lows would nullify the buy signals.
dabum |
