Wednesday, April 13, 2016

PSG: Performance Sports, Bottom Fishing Potential with Indicators Turning Up

LIFE: a Tyr Pharma Broke Above Previous Low on Heavy Volume, Indicators Turning Up

SHLD: Sears Holdings May Have Finally Bottomed

LAZ: Lazard Bounce Off Support, If Pullback is Over Then Target of $46

MRO: Marathon Oil, Ascending Triangle Breakout, Projects to $17.50

UPL: Ultra Petroleum Start of a New Bullish Trend?

Crude Oil and Energy Stocks $XLE

Over the past few week, we have seen the price of crude oil pullback from its recent high of $42 per barrel level. Last week April 4-8th the price of crude oil pulled back to a technical support zone and then posted a strong gain closing the weekly chart at the high.

Based on short-term technical indicators, along with the current momentum which crude oil has, I feel we will see the recent highs of $42 a barrel tested once again.

So what does this mean for energy stocks in the stock market as a whole? Well, if things unfold this week as I expect they will then we should see oil rise along with, energy stocks, and the S&P 500 index.  (more)