Sunday, May 15, 2011

On the Radar

On the radar for this week are stocks that trade in the energy, oil and gas sector. The oil index declined pulling back to downside support for the second week in a row to the $95.43 area before ending the week trading higher.

Upside resistance for the crude oil at $115.05 but for now the index needs to break above the $105.08 in order to advance higher to the upside.

As the price of crude oil advances the stock to keep a close eye on are (GEOI) Geo Resources, Inc., (XIDE) Exide Technologies, (COG) Cabot Oil & Gas Corp., (EXXI) Energy XXI, Ltd.,(XOM) Exxon Mobile, (BP) BP Amoco PLC, (MUR) Murphy Oil & Gas, (GLNG) Golar LNG Ltd., and (CVX) Chevron Corp., to name a few.

By: Marlin Rolle

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