X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 17 hours America Makes Plans to Produce Needed Rare Earth Minerals Domestically
  • 4 hours IS SAUDI ARABIA SENDING A MESSAGE TO BIDEN
  • 17 hours U.S. Presidential Elections Status - Electoral Votes
  • 2 days Texas forced to have rolling black outs, primarily because of large declines in output from fossil fuel power plants
  • 2 days Former BP Exec "Biden not in war against oil" . . Really ?
  • 3 days Texas Supply Chain Massacre
  • 2 days Here we go - again: plug-in hybrids cost motorists more than what they were told
  • 14 hours Top Conservative Lawyer Says Trump Can Stand Trial
  • 14 hours “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 2 days An exciting development in EV Aviation: Volocopter
America's Largest ESG Fund Has No Direct Renewable Holdings

America's Largest ESG Fund Has No Direct Renewable Holdings

Environmental, Social and Governance (ESG)…

Bloomberg’s Hottest Energy Picks For 2021

Bloomberg’s Hottest Energy Picks For 2021

2020 was a particularly tough…

Are America’s Largest Oil Companies Really Going Green?

Are America’s Largest Oil Companies Really Going Green?

America’s largest oil companies, ExxonMobil,…

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




Oilprice - The No. 1 Source for Oil & Energy News