Natural Gas Stocks Finally Heat Up – DVN, CHK, SWN

All of the leading natural gas stocks are catching a bid higher despite the broad stock market sell off. The natural gas stocks have been selling off sharply since mid-February. Devon Energy Corp (NYSE:DVN) is considered the best natural gas stock in the group. DVN stock is trading higher by 0.77 cents to $66.00 a share. Traders and investors can watch for intra-day resistance around the $66.60 level. The daily chart of DVN will have very good daily chart support around the $64.00 level.

Some of the other leading natural gas stocks that are trading higher today include Chesapeake Energy Corp (NYSE:CHK), and Southwestern Energy Co (NYSE:SWN). All of these leading stocks are still trading below the important daily chart 50, and 200 moving averages. This chart formation puts these stocks in a very weak technical position, therefore, all bounces in these stocks might just be short term as the trend still remains down.

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

Visit: InTheMoneyStocks

Be the first to comment

Leave a Reply

Your email address will not be published.


*