Here is look at CPG. One of many oil and gas names that have been a tear lately. Many charts share the same setup which sports a nice basing pattern out of longer term low. I have been hesitant to trade energy names due to the fact that it has been a dog for so long, but the energy crunch in China and else where is pointing to the possibility that that may be a strong trend for awhile. Most countries are reducing fossil fuel production yet increasing consumption at the same time.
Note: This may not be the best stock to trade due to volume and choppiness, but serves a good example of what to look for in the energy space.
Note: This may not be the best stock to trade due to volume and choppiness, but serves a good example of what to look for in the energy space.
Comment:
This and many oil/energy names continue to make new highs. Good idea not to ignore this sector.
