Royal Dutch Shell plc operates as an independent oil and gas company worldwide. It operates through Upstream and Downstream segments. The company explores for and extracts crude oil, natural gas, and natural gas liquids. It also converts natural gas to liquids to provide fuels and other products; markets and trades natural gas; extracts bitumen from mined oil sands and converts it to synthetic crude oil; and generates electricity from wind energy. The company holds interests in approximately 24 refineries; 1,500 storage tanks; and 150 distribution facilities. It sells fuels under the Shell V-Power brand. Royal Dutch Shell plc is headquartered in The Hague, the Netherlands.
Take a look at the 1-year chart of Royal (NYSE: RDS/A) with the added notations:
Like most energy related stocks, RDS/A fell on hard times during the
summer and fall. Even recently the stock hit a new 52-week low. However,
yesterday RDS/A actually broke back above the prior level of support at
$60. That break should mean higher prices for the stock in the
short-term, at minimum.
The Tale of the Tape: RDS/A had a key level of
support at $60 that it has now broke back above. A trader could enter a
long position at $60 with a stop placed under the level. If the stock
were to break below $60 a short position could be entered instead.
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zerohedge.com / by Tyler Durden on 03/21/2015 17:58Please share this article
Less than two weeks ago we warned that based on the current oil production trend, the US may run out of storage for crude as soon as June.