Southwestern Energy Company, an independent energy company, engages
in the exploration, development, and production of natural gas and oil
primarily in the United States. The company operates through two
segments, Exploration and Production, and Midstream Services. The
Exploration and Production segment primarily focuses on the Fayetteville
Shale, an unconventional reservoir located in the Arkoma Basin in
Arkansas; and is involved in the exploration and production activities
in the Marcellus Shale play in Pennsylvania, as well as in Texas,
Arkansas, and Oklahoma. It also engages in exploration activities in the
Lower Smackover Brown Dense formation in Arkansas and Louisiana; the
Marmaton and Atoka formations in the Denver-Julesburg Basin in Colorado;
the Bakken and Three Forks formations in Montana; and in New Brunswick,
Canada, as well as operates drilling rigs in Arkansas, Pennsylvania,
and Louisiana. The Midstream Services segment provides natural gas
gathering, marketing, and transportation activities in Arkansas, Texas,
and Pennsylvania.
To review Southwestern's stock, please take a look at the 1-year
chart of SWN (Southwestern Energy Company) below with my added
notations:
SWN has been trading sideways for the last 8 months. Over that period
of time, the stock has formed a clear resistance level at $40 (red). In
addition, the stock has also created a strong level of support at $35
(blue) that has held since the end of April. At some point the stock
will have to break one of those two levels.
The Tale of the Tape: SWN has clear levels of
support ($35) and resistance ($40). The possible long positions on the
stock would be either on a pullback to $35, or on a breakout above $40.
The ideal short opportunity would be on a break below $35.
Please share this article
No comments:
Post a Comment