2waytrading

$NFX recent rally is far from over..Expect a pull back (Handle)

NYSE:NFX   NEWFIELD EXPLORATION COMPANY
94 0 0
It looks rounded bullish bottom if confirmed expect another 55% rally next 12 months. As per Rauters "NFX seems highly valued with the highest PEG value in the Oil             , Gas & Consumable Fuels industry of 64.174, which is supported by a PE of 779.0718 that is also the highest in the industry." Having said that the chart is very bullish in the long term, but expect some pull back now which may even give buyers a chance to reload their truck provided that the drop is not more than 5% from last closing price. Short term target will be $49 with tight stop at recent swing low at and around August low. If u want a real time alerts try us http://www.2waytrading.com
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