Monday, December 21, 2015


What a rally for GoPro Inc (NASDAQ:GPRO) late in the day. We have to believe that this rally will resume in earnest on Monday. A break above the $20 level would give the stock momentum for a run to test the declining 50-day EMA. From a technical standpoint, the MACD is moving up showing positive momentum while RSI also show bullish movement. Plus, A/D line is moving up, it means the stock is being accumulated.

Oasis Petroleum Inc. (NYSE: OAS)

Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. The company’s principal projects are located in West Williston and East Nesson. As of December 31, 2014, it had 505,503 net leasehold acres in the Williston Basin; and approximately 272.1 million barrels of oil equivalent of estimated net proved reserves. The company sells its oil and natural gas to refiners, marketers, and other purchasers that have access to pipeline and rail facilities.
Take a look at the 1-year chart of Oasis (NYSE: OAS) with the added notations:
Although the stock has ridden some big ups and downs along the way, OAS has been bouncing on top of a clear $8 support (green) over the past 5 months. Now that the stock appears to be testing that support level again, traders should be able to expect some sort of bounce. However, the stock’s recent underperformance is a bit concerning. If the $8 support were to break, lower prices should follow.

The Tale of the Tape: OAS has a key level of support at $8. A trader could enter a long position at $8 with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.

3D Systems Corporation (NYSE:DDD)

3D Systems Corporation (NYSE:DDD) rose most of the week, closing the week above the 50-day moving average for the first time since October. The stock has posted an impressive four day rally and continues to garner investor interest. Daily technical indicators have turned bullish. MACD is negative but is about to cross over its zero line, while momentum indicators crossed their midlines to the upside, supporting further advances. The bullish volume trend suggests buyers are accumulating stock. It could initiate a sharp rally, back to $12. As long as the stock can remain above the rising 20-day EMA, I like the stock.

US Weekly Economic Calendar

time (et) report period ACTUAL forecast previous
8:30 am Chicago Fed national activity index Nov.   -- -0.04
8:30 am GDP 3Q
1.8% 2.1%
10 am Existing home sales Nov.
5.36 mln 5.36 mln
8:30 am Personal income Nov   0.2% 0.4%
8:30 am Consumer spending Nov.   0.4% 0.1%
8:30 am Core inflation Nov.   0.1% 0.0%
8:30 am Durable goods orders Nov.   -1.0% 2.9%
10 am Consumer sentiment Dec.   -- 91.8
10 am New home sales Nov.   503,000 495,000
8:30 am Weekly jobless claims Dec. 19
  Christmas Day
None scheduled