Technical Alert April 18th: Rex Energy (REXX) This gas heavy E&P company has been take to the woodshed in 2012. But at $9 the stock is woefully undervalued and due for a bounce. The 2010 lows are at $9.00 (green line) and we could see a bounce off this support level in coming weeks.
UPDATE April 23rd: Bought REXX long at $9.45
UPDATE April 27th: I remain long REXX from $9.45 and will add on any weakness. Stock broke above $10 yesterday. This could be a huge trade if nat gas prices hold onto their recent gains.
UPDATE May 1st: REXX is breaking to the upside ahead of earnings tonight. I am holding my long position through this earnings report.
disclosure: long REXX
Technical Alert April 18th: Pioneer Natural Resources (PXD) is holding a strong uptrend (bottom green trend line). Also notice how the stock has been consolidating since mid February. Low ADX means this stock is ready to break into a new trend. Given the strong uptrend I think the next move is higher.
UPDATE April 27th: PXD is making a solid move higher out of the consolidation I pointed out on the 18Th. I suspect PXD will test the $120's in the near future.
disclosure: No position yet
Technical Alert April 18th: Halliburton (HAL) oil services company reported earnings this morning well above analyst estimates. Also notice how the stock is coming off multi-month lows (bottom green line). Profit target is the upper green trendline and 200 dma.
UPDATE April 27th: I remain long HAL. stock is chopping around in the $34-$33 range.
UPDATE May 1st: I added more size to my long HAL position today.
UPDATE May 15th: HAL has broken through support at $32.00 and looks ready to test $30.00 tomorrow. I sold half this position yesterday to lighten up and plan on buying back in at $30.00
