«The sector demands your attention.»
Traders,
The energy giants, Exxon Mobil and Chevron, stepped up to the earnings plate last month and hit home runs. Their profit binge isn’t an isolated event. All the major players saw a sales boon amid persistently high oil prices. And it’s not just the fundamentals that are supporting buyers. The price performance has been equally dazzling.
In mid-October, the energy sector (XLE) broke a key resistance zone near $84. It’s risen nearly every day since creating easy profits for buyers. And this morning, it’s the best performing sector.
One stock in the sector made the cut for our weekend scouting reports: Schlumberger (SLB). Its momentum during the past month has been insane, suggesting institutional backing and staying power. Last week saw three down days pull prices back to the rising 9 EMA.
Shares are popping 3.25% this morning, even as the broad market flashes red. Impressive, most impressive.
Video of the Day – Frank’s Charts: Hot Potential Swing Trading Picks
Watch this clip with Coaches Frank and Matt where they share a few charts and discuss potential Swing Trading Picks $KEY $AMAT $ADBE $COUP $MDT $UNH
Chart of the Day: Schlumberger ($SLB)
This is what a pretty pullback looks like.
Today’s line up
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