5 Oil Stocks to Sell

These oil stocks have run dry

   

My Power Stocks System tracks the most volatile, liquid candidates for option trading or short-term stock trading each week…but along with those strong names, I uncover the duds of the stock market too. The stocks I put on sell watch are in bearish trends that still have a great deal of downside left.

I also mention the resistance levels of these stocks so you are aware of whether a downtrend is just starting or if it’s already established. And as we all know, stocks take the stairs up and the elevator down…so the volatility rating from my Power Stocks system should alert you to stocks that might surprise to the downside.

I would recommend selling these names on any further weakness.

  • Exxon (NYSE:XOM): XOM is bumping up against resistance at $90. Volatility is below average.
  • Occidental Petroleum (NYSE:OXY): OXY is showing what I call a “reconfirmed sell” pattern—meaning this stock has broken down from an attempt to rally up. This is one of the most reliable signals on which to take action. It’s already trending well below resistance at $84, and volatility is above average.
  • Halliburton (NYSE:HAL): Resistance for HAL is at $41, and the stock is trading about $2 below that. Volatility is well above average.
  • Schlumberger (NYSE:SLB): Resistance for SLB is at $78, and volatility is about average.
  • Rowan Companies (NYSE:RDC): RDC shows the same reconfirmed sell pattern as OXY. Resistance is at $35 and volatility is about average.

If you’re unfortunate enough to own one of these names, take a loss now and save yourself the heartache later.

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