Oil and Gas Sector ETF (XOP) and Stocks Continue Bullish Trading

After pausing at the initial MOB target band, the XOP had an impulsive bullish move above that zone.

This, to me, signals a strong lack of selling, and a “buy the dip” scenario. Note that we have been bullish energy for some time – our latest research post can be read here.

I am adding to long exposure to the sector right here with the next initial pause zone at the MFU-3 target around $153.

After reviewing stocks within the sector (and especially those where there has been an increase in short positions), I found 12 stocks that are “potential short squeeze candidates”. See further below.

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My firm uses the database from Erlanger Research for this analysis and have used this for over 30 years. Phil Erlanger was a colleague at Fidelity in the early 90’s.

xop oil and gas exploration etf trading buy price targets chart
oil and gas stocks with trading buy signals analysis

Twitter: @GuyCerundolo

The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.