A consequence of the energy sector being a strong hideout of late, amid the damage suffered in the growth parts of the tape, is that many energy stocks are now too crowded, short-term.
As a result, I expect names like SLoB to correct a bit.
On the daily chart, below, the large oil services stock is ripe to come in some more, perhaps down to its 50-day moving average into next week after the reversal candle last week and Thursday’s base breakdown attempt.
Drop me your top tickers overnight.
____________________________________________________________________
If you enjoy the content at iBankCoin, please follow us on Twitter
The ticker typo made me laugh. Great symbol for a short play.
Not a typo, Will. Haha. SLoB has been the nickname of $SLB for many years.
YNDX
QCOM
CMG
SONC
PZZA
Thanks
$LNKD – failed to hold
$TWTR – COO sold
$FUEL – earnings cold