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TrendSpider Friday Analysis – A Look Back at Oil Stocks

In this Friday’s Analysis, we look at oil based stocks as they have rallied over the last few weeks. We take a close look at the weekly SMA overlay on the daily chart as the price action is breaking through this area for the first time since the October meltdown. To view the Thursday analysis from two weeks prior, click here to see how the chart has materialized.

Video Analysis

CHK: Daily vs. Weekly SMA


MRO: Daily vs. Weekly SMA


USO: Daily vs. Weekly SMA


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REMEMBER: These are charts that have interesting technical setups based on automated technical indicator analysis included. Charts and analysis for educational reasons only. TRENDSPIDER IS A CHART ANALYSIS PLATFORM. IT IS NOT INTENDED TO BE TRADING OR INVESTING ADVICE. ALWAYS DO YOUR OWN DUE DILIGENCE USING MULTIPLE SOURCES OF INFORMATION AND/OR SEEK THE ADVICE OF A LICENSED PROFESSIONAL BEFORE TRADING OR INVESTING. Please read our full risk disclaimer on our website by clicking here.