Oil + Energy Technical Analysis - SCO, OXY, INDO, CEI, IMPP, HUSA, UEC, GEVO, LIACF, TMC
We take a 19th look at the Oil and Energy Sector - SCO, OXY, INDO, CEI, IMPP, UEC, GEVO, LIACF, TMC
Was bullish on SCO on the last video and that echoes again on today's. Breaking the 200 Moving Average on SCO would be a very big deal if it happens and a very bad thing for Oil stocks
SCO - Last attempt at breaking the 200 Moving Average was not enough; however, it seems this is ready for another attempt. Today was MONSTER as this broke 4 of 5 Moving Averages and is sitting on the 200MA to the penny.
It has been YEARS since this has been over the 200MA, and if we see confirmation on Monday, that could be REAL BAD for oil stocks (but great for SCO!)
OXY - Fell into the $67 range expected last week and it still seems like this could go as low as $61 (near the 200 Moving Average line). With SCO looking so strong and this continuing to trade under the 8 Moving Average line on the Daily Chart, there is a lot to worry about. Worst thing is Weekly Chart seems like it is about to lose the 20MA on top of already losing the 8MA
INDO and IMPP - There were a few warnings that things were getting bad on these, and that does continue today. Once the horizontal Moving Average cluster was lost, there was very little reason to be in any of these. Nothing seems too positive here, and with SCO looking good, it could get really bad here.
Volume is almost irrelevant with INDO too - this cant even get over 1M... Ouch..
CEI - Last video I stressed to expect bad things until CEI shows otherwise and that clearly was the case.
I realize there were some nice intraday pops that might have excited a few people, but ideally you were not fooled by these tempting annomolies and stayed true to your trading strategy!
All Time Lows is a HORRIBLE place to have your money and the last thing you ever want to get the answer to is "how much worse can this really get"
HUSA - Last week we noticed this was in a horizontal cluster of Moving Averages and said "IF this breaks $4.13 it will FLY, but it IF this loses $3.86 it might drop real bad as there is a gap down forming on the Weekly
be careful here"
...well... we just lost $3.86 after today's trading...
be careful here!!!
UEC - So sad to see how this is trading - it wasnt too long ago it seemed this would break $4.20 and Fly... this is why we take emotion out of trading!!
As it stands, this is looking like one of the worst on the videos full of bad tickers. We had a devastating drop out of the cluster and it seems this is ready to drop hard. With this Under All the Moving Averages, I would be really worried this falls as low as $3
GEVO and LIACF will continue to be group together, and neither is looking too appealing. GEVO looks to be worse as this is trading under the 8 Moving Average and as lost the cluster of moving averages. LIACF looks a little better, but the rejection of the 100MA has not really recovered, and we are simply moving horizontally in this cluster of moving averages. Seems likely this will dump out of the bottom like so many on today's video
TMC - Last video I said, " This better stay above our $0.83 support; otherwise, there is a good chance this can slip into all time lows."
well... we just lost the $0.83 support line after today's trading and All Time Lows are just a stone throw away
Fan of this stock... just not right now
All Time Lows is not where you want your hard earned money sitting!!
Using Support and Resistance lines, as well as Moving Averages, MACD, and RSI indicators, we will see how tomorrow is shaping up for these stocks in the energy and oil sector
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