Of course there's a correlatión between the stock and oil prices (WTI), but this chart can give us a little more understanding about it.
CEP
RIG
NASDAQ:CDEV
NYSE:DNR
AMEX:NOG
NYSE:QEP
I set the baseline price at $ 54.00, if you see the chart you can see some years above that price with a good stock performance and of course the opposite, but more important, the momentum where the prices drop and their effect on the stocks, right now we're just recovering the oil prices but the shares still low, so I think this could be a good opportunity for long term (except for those companies about to declare bankrupcy).
The baseline price is not fixed but I found more support and resistance points at the same level
This is not an investment advice.
CEP
RIG
NASDAQ:CDEV
NYSE:DNR
AMEX:NOG
NYSE:QEP
I set the baseline price at $ 54.00, if you see the chart you can see some years above that price with a good stock performance and of course the opposite, but more important, the momentum where the prices drop and their effect on the stocks, right now we're just recovering the oil prices but the shares still low, so I think this could be a good opportunity for long term (except for those companies about to declare bankrupcy).
The baseline price is not fixed but I found more support and resistance points at the same level
This is not an investment advice.
