Connect with us

Stock Picks

Stock Picks: STX and RRC

Published

on

The S&P 500 (SPX) went as high as 2,796.98 yesterday, March 12 but it shed 13 points to close the day at 2,783.02. The index is just a few points shy of breaching 2,800 resistance. It must do so in the next few days, or we might see an increase in selling pressure.

// -- Discuss and ask questions in our community on Workplace.

As we wait for the index to give us more clarity, let’s look at names that are near firm support levels.

STX – Seagate Technology PLC

Seagate Technology is an American public limited company (PLC) data storage company. As a global leader in data storage solutions, they have products ranging from hard disk drives (HDDs), solid state hybrid drives (SSHDs), solid state drives (SSDs), peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers. Incorporated in 2010, the company believes that data storage is not only about archiving, but about harnessing stored information for growth and innovation. Their service portfolio also includes Enterprise Storage, Client Compute products (Desktop and Mobile HDDs and SSHDs), and Client Non-compute products such as video HDDs, surveillance HDDs, Network Attached Storage (NAS) HDDs and Branded Solutions.

STX went in a downtrend in June 2015 when it broke below 50 support. This triggered the toppish head and shoulders pattern. The stock then created a series of lower highs and lower lows until it bottomed out in May 2016 at 18.42. STX rallied and climbed to as high as 50.96 in April 2017. Even though the stock pulled back, it created a higher low at 30.60, which it used to reverse the trend.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Technical analysis show that STX has broken out of large bullish reversal pattern when it took out resistance of 50 in January and February 2018. It did so with above average volume which helped absorb selling pressure. Currently, STX is trading at 60, but it is flashing overbought readings. The next pull back should be a good entry point.

The strategy is to wait for the dip and buy as close to 55 as possible. Once selling is over, the stock may resume its ascent to our target of 80. This may take less than six months.

Weekly STX Chart

Monthly STX Chart

As of this writing, the Seagate Technology stock is trading at 61.04.

Summary of Strategy

Buy: As close to 55 as possible.

Target: 80

Stop: 50

 

RRC – Range Resources Corporation

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company in the United States. Incorporated in March 1980, the company explores, develops, and acquires natural gas and crude oil properties in the Appalachian and North Louisiana regions of the United States. Their culture of good stewardship which incorporates performance, integrity, innovation, and transparency made them one of the top high sustainability scorers in As You Sow’s annual Transparency and Risk in Methane Emissions report.

RRC lost its bullish momentum in June 2016 when it generated a lower high of 46.96. Things took a turn for the worse when the stock broke below 42 support in the next month. This triggered the head and shoulders reversal pattern on the daily chart, which sent the stock into a freefall. The stock has been creating a series of lower highs and lower lows. Recently, however, RRC appears to have shown signs of capitulation.

Technical analysis show that RRC may have capitulated on January 25 when it printed volume of 33.16 million. This is the highest traded daily volume since early 1990s based on the chart. In addition, the stock has also reclaimed 15 support. This support level has been defended by bulls since 2005.

The strategy is to buy as close to 15 support as possible. The stock lost over 68% of its value from the lower high of 46.96. Therefore, the stock might take some time to consolidated before it can march to our target of 30. The process may take more than six months.

Weekly RRC Chart

Monthly RRC Chart

As of this writing, the Range Resources Corporation stock is trading at 15.73.

Summary of Strategy

Buy: 15

Target: 30

Stop: 13

 

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
1 vote, average: 3.00 out of 51 vote, average: 3.00 out of 51 vote, average: 3.00 out of 51 vote, average: 3.00 out of 51 vote, average: 3.00 out of 5 (1 votes, average: 3.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 170 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




Feedback or Requests?

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Stock Picks

Stock Picks: NEM and PXD

Published

on

The S&P 500 (SPX) gapped up at the opening yesterday, May 21, 2018. It opened at 2,725.95 which is 12.98 points higher than the May 18 close. This is an encouraging sign for the bulls, especially now that the trade war between the US and China has been put on hold.

// -- Discuss and ask questions in our community on Workplace.

As the index gathers momentum, let’s look at stocks that are showing bullishness.

NEM – Newmont Mining Corporation

Newmont Mining Corporation (NEM) is a mining company that explores for and produces gold and copper. It was founded by Colonel William Boyce Thompson as a holding company for private acquisitions in oil and gas, mining, and minerals enterprises in 1916. As one of the world’s leading gold companies, the Newport Mining Corporation has assets and operates in North America, South America, Asia Pacific, and Africa. To date, Newmont Mining Company has a consolidated gold production of 5.2 million ounces and consolidated copper production of 119 million pounds.

Technical analysis show that NEM is positioning to take out resistance of 45. This would trigger the large cup and handle reversal pattern on the weekly chart.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

To complete the breakout, the stock needs to print volume of at least 7.5 million shares on the daily chart. 45 is a firm psychological resistance as it is the 50% Fibonacci level. Many of those who bought the bottom and the higher low are very likely to dump positions at the resistance. NEM needs buyers to absorb the selling pressure.

Also, fundamental analysis show that the trailing twelve months (TTM) price to earnings ratio (PE ratio) of NEM is 25.24. The stock looks attractive based on its PE ratio considering it is below its five-year maximum of 43.019.

The strategy is to buy the breakout at 45 after NEM generates the prescribed volume. Once breakout is complete, the market will create a new base above 45 before crawling to our target of 70.

The process may take more than six months.

Weekly NEM Chart

Monthly NEM Chart

As of this writing, the Newmont Mining Corporation stock is trading at 39.18.

Summary of Strategy

Buy: Breakout of 45 after NEM generates 7.5 million shares on the daily chart.

Target: 70

Stop: Close below 40 after the breakout.

PXD – Pioneer Natural Resources Company

Pioneer Natural Resources Company (PXD) is a petroleum, natural gas, and natural gas liquids (NGLs) exploration and production company. Formed through the merger of Parker & Parsley Petroleum Company and MESA Inc. in 1997, it now has operations in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado, and the West Panhandle field in the Texas Panhandle.

Technical analysis show that PXD has taken out resistance of 185 and went above the 78.6% Fibonacci level. This triggered the immense cup and handle reversal structure on the weekly chart. The breakout was affirmed by a strong rally to 213.40. At this point, however, the stock is touching overbought territory. The expected pullback could be your opportunity to buy the breakout.

Furthermore, fundamental analysis reveal that PXD’s trailing twelve months (TTM) PE ratio stands at 34.04. While the stock appears to be overvalued, it is actually not. PXD has a five-year average of 73.59. This tells us that investors are willing to pay a premium for PXD shares.

The strategy is to buy the dips as close to 185 as possible. As long as bulls stay above this support, they have all the momentum to move to our target of 240.

The process may take more than six months.

Weekly PXD Chart

Monthly PXD Chart

As of this writing, the Pioneer Natural Resources Company stock is trading at 208.93.

Summary of Strategy

Buy: On dips as close to 185 as possible.

Target: 240

Stop: Close below 180.

 

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 170 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




Feedback or Requests?

Continue Reading

Stock Picks

Stock Picks: NOV and PNR

Published

on

The S&P 500 (SPX) closed at 2,712.97 on Friday, May 18, 2018. The index appears to be consolidating above the 2,700 support after going as high as 2,742.10 on May 14, 2018. The bullish outlook remains as long as the SPX respects the support.

// -- Discuss and ask questions in our community on Workplace.

As bulls control the index, let’s look at stocks that are showing signs of strengths.

NOV – National Oilwell Varco Incorporated

National Oilwell Varco Incorporated (NOV) is an American multinational corporation that manufactures and provides oilfield equipment and technology. Established in 2005 with the National Oilwell and Varco merger, it operates within the following segments: Rig Systems, Rig Aftermarket, Completion and Production Solutions, and Wellbore Technologies. The company’s product portfolio includes heavy hardware for oil well drilling and complete drilling rigs.

Technical analysis show that NOV has taken out resistance of 43. This triggered the cup and handle reversal structure on the weekly chart. The breakout should attract trend followers and momentum traders, considering that 43 is also the 50% Fibonacci level. A follow through in today’s trading would affirm the breakout.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Also, fundamental analysis show that the trailing twelve months (TTM) price to earnings ratio (PE ratio) of NOV is 10.22. The stock looks attractive based on its PE ratio considering it is below its five-year maximum is 15.47.

The strategy is to buy the breakout as close to 43 as possible. As long as the market stays above this level, it has all the momentum it needs to climb to our target of 57. The process may take more than three months.

Weekly NOV Chart

Monthly NOV Chart

As of this writing, the National Oilwell Varco Incorporated stock is trading at 43.51.

Summary of Strategy

Buy: Buy as close to 43 as possible.

Target: 57

Stop: Close below 40

PNR – Pentair PLC

Pentair PLC (PNR) is a multinational diversified industrial company. Founded in 1966, it quickly ventured into various industries until settling down in 2004 to focus on two operational segments: Water Quality Systems and Flow and Filtration Solutions. With 130 locations, the company now counts more than 10,000 employees in 34 countries, and offers their products under the following brand names: Pentair Aquatic Eco-Systems, Everpure, Kreepy Krauly, Sta-Rite, Shurflo, Aurora, Berkeley, Codeline, Fairbanks-Nijhuis, Haffmans, Hypro, Sta-Rite, Sudmo, and X-Flow.

Technical analysis show that PNR has taken out resistance of 46. This triggered the large inverse head and shoulders reversal pattern on the weekly chart. The breakout has propelled the stock to as high as 50.26 in January 2018. Fortunately for you, the stock has been pulling back. This is your chance to buy near the breakout point.

Furthermore, fundamental analysis reveal that PNR’s trailing twelve months (TTM) PE ratio stands at 12.56. The stock still looks very attractive based on its PE ratio. It appears undervalued as its five-year average is 21.79.

The strategy is to buy as close to 46 as possible. As long as bulls stay above this support, they have all the momentum to move to our target of 62.

The process may take more than six months.

Weekly PNR Chart

Monthly PNR Chart

As of this writing, the Pentair PLC stock is trading at 46.65.

Summary of Strategy

Buy: As close to 46 as possible.

Target: 62

Stop: 43.50

 

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 170 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




Feedback or Requests?

Continue Reading

Stock Picks

Stock Picks: LUK and MRO

Published

on

The S&P 500 (SPX) went as high as 2,742.10 yesterday, May 14, 2018, before succumbing to profit taking. This pullback is healthy given the index’s rally from a low of 2,594.62 on May 3. The bullish outlook remains as long as the SPX remains above 2,680.

// -- Discuss and ask questions in our community on Workplace.

As the index remains resilient, let’s look at stocks flashing signs of strength.

LUK – Leucadia National Corporation

Leucadia National Corporation (LUK) is an American conglomerate and investment holding company. Incorporated in 1968, it is a company focused on return on investment and long-term value. Their financial services business portfolio includes Berkadia Commercial Mortgage LLC, Foursight Capital and Chrome Capital, FXCM Group LLC, HomeFed Corporation, Jefferies Group LLC, and Leucadia Asset Management.

Technical analysis show that LUK is primed to take out resistance of 27. This comes after it created a bullish higher low setup when it dropped to as low as 21.61 on April 6, 2018. The setup was affirmed by a strong bounce to 24.75 on April 9 with volume that’s 173.47% higher than its daily average. Breach of the resistance would trigger the cup and handle reversal structure on the weekly chart.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Also, fundamental analysis show that the trailing twelve months (TTM) price to earnings ratio (PE ratio) of LUK is 19.66. The stock looks fairly valued based on the PE ratio, but it has a five-year maximum of 171.43. This suggests that investors are willing to pay a premium for LUK shares.

The strategy is to buy the breakout at 27 as long as the stock prints seven million shares on the daily chart. Those who bought the higher low are likely to take profits at the resistance. The stock needs buyers to absorb the selling pressure.

Once bulls take out the resistance, the stock may attract trend followers and momentum traders who may help lift LUK to our target of 39. The process may take more than six months.

Weekly LUK Chart

Monthly LUK Chart


As of this writing, the Luecadia National Corporation stock is trading at 24.57.

Summary of Strategy

Buy: Buy breakout at 27 as long as the stock generates seven million shares on the daily chart.

Target: 39

Stop: Close below 25.2 after the breakout.

MRO – Marathon Oil Company

Marathon Oil Corporation (MRO) is an American petroleum and natural gas exploration and production company founded in 1887. They primarily operate in North America: Eagle Ford in Texas, Permian in New Mexico, STACK and SCOOP in Oklahoma, and the Bakken in North Dakota. The company’s international segment produces and markets crude oil and condensate, NGLs and natural gas outside of North America, and Equatorial Guinea (E.G.). The Oil Sands Mining segment mines, extracts, and transports bitumen from Alberta, Canada.

Technical analysis show that MRO has taken out resistance of 19. This triggered the inverse head and shoulders pattern on the weekly chart. The breakout was affirmed by a rally to 21.68 on May 9, 2018. However, the stock is touching overbought territory on the daily chart. The possible dip should be your opportunity to buy near the breakout point.

Furthermore, fundamental analysis reveal that MRO’s trailing twelve months (TTM) PE ratio stands at 14.68. The stock still looks attractive considering that its five-year maximum is 26.02.

The strategy is to buy on dips as close to 19 as possible. As long as the stock stays above 19, it has the momentum to climb to our target of 31.50.

The process may take six months.

Weekly MRO Chart

Monthly MRO Chart


As of this writing, the Marathon Oil stock is trading at 21.42.

Summary of Strategy

Buy: Buy on dips as close to 19 as possible.

Target: 31

Stop: 18

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 170 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




Feedback or Requests?

Continue Reading

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending