Oasis Petroleum Inc., an independent exploration and production company, engages in the acquisition and development of oil and natural gas resources in the Montana and North Dakota regions of the Williston Basin. Its primary projects are located in West Williston, East Nesson, and Sanish. As of December 31, 2012, the company had 335,383 net leasehold acres in the Williston Basin; and had approximately 143.3 million barrels of oil equivalent of estimated net proved reserves. Oasis Petroleum Inc. was founded in 2007 and is headquartered in Houston, Texas.
Please take a look at the 1-year chart of OAS (Oasis Petroleum) below with my added notations:
OAS has had a rough slide over the last 3+ months. Along the way the
stock has created a clear down trending resistance (red). In addition,
the stock has a key level at $40 that has been support and resistance
off and on throughout the entire year. At some point soon the stock will
have to break one of those two levels.
The Tale of the Tape: OAS has a key level of support at $40 and a
down trending resistance that currently sits near $44. A long trade
could be made at $40, or on a break through $44, with a stop placed
below the level of entry. However, if the stock were to break below $40
traders might want to look to get short on the stock.
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With significant global market declines and continued turmoil as we move through the early part of 2014, today King World News is pleased to share a piece of legendary technical analyst Louise Yamada’s “Technical Perspectives” report. Yamada is without question one of the greatest technical analysts Wall Street has ever seen. This information is not available to the public and we are grateful to Louise for sharing her incredible work with KWN readers globally.
The portion below has an extremely interesting chart and is just a very small portion of what Yamada covered in her fantastic 48 page piece. A link to subscribe is located at the bottom of the piece.
By Louise Yamada Technical Research Advisors, LLC (“LYA”)
February 5 (King World News) – Major Global Market Rumblings, Turmoil & Black Holes
U.S. STOCK MARKET: Rumblings Under the Surface Suggest Defensive Action.
January got off to a bad start with the S&P 500, NYSE and DJIA highs put in place the last day of December. (Our December Interim Update now appears simply premature.) Thereafter, the incremental volume carried little progress in taking these markets higher, suggesting short-term churning (profit-taking under the surface). January has now ended as a down month, not a positive indication for the year ahead.