• 3 minutes China's aggression is changing the nature of sovereignty.
  • 8 minutes Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 9 minutes US oil facts
  • 53 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours Europe gas market -how it started how its going
  • 5 hours Amazing!...see article: "Turkmenistan To Close "Gates Of Hell" Gas Fire" by Irina Slav
  • 3 days Russia oil production live month after month starting from November 2021 - official stats from Rosstat agency
  • 3 days Is $100 Crude Bad For US Shale? That's what Oil CEOs Say
  • 6 hours Сryptocurrency predictions
  • 2 days Ukrainian Maidan after 8 years
  • 3 days Nuclear power in Russia
Natural Gas Prices Spike On Colder Weather

Natural Gas Prices Spike On Colder Weather

The East Coast is experiencing…

3 Key Trends Driving Natural Gas In 2022

3 Key Trends Driving Natural Gas In 2022

2021 will go into the…

Editorial Dept

Editorial Dept

More Info

Premium Content

An Undervalued Energy Stock Investors Can’t Ignore

I have said many times before, here and elsewhere, that technical analysis has its limitations. The idea that we can look at what happened in the past and confidently predict the future based on it appeals to some basic desire for order in the human psyche, but in many cases, it doesn’t stand up to logical analysis. The circumstances at different times are inevitably different themselves, and just because “A” happened at some point in the past doesn’t mean that “B” will follow. However, simple analysis based on previous highs and lows does have value.

When a stock bounces off a level, it is likely to do so again, even in different market conditions. It results in a perception that the level has its own significance, significance that will still be there in the future regardless of anything else. There is often some truth to that. A stock that is falling will often stop because many people perceive value at the same level and place orders to buy, and those buyers will probably re-emerge at that same level in the future. In addition, even if the low was prompted more by a change in fundamental conditions, when it is approached again it will attract buyers simply because it held before. They don’t always prevail, but when they do and the level holds again, the perception of its significance increases.

That “double bottom” formation can be seen now in an energy stock that has disappointed a lot over the last year…Schlumberger…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News