If you believe the strength in energy stocks is legitimate and sustainable, then it is worth looking down the line at energy infrastructure, construction & engineering firm Foster Wheeler.
On the daily chart below, note the narrowing price pattern within the context of an uptrend. I view a move over $32.50 as a price trigger for a potential upside breakout.
What are you trading this morning?
___________________________________________________
SLB – I know its extended short term, but look at the weekly ….just emerging. NBL also has my interest. What you say Chess?
Strong moves
Trying to figure FWLT out though as they are being acquired. Shareholders are looking for $38 a share but the deal values FWLT at mid $32s…anyway, stock is running 3 straight days now