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3 Energy Stocks To Buy On The Dip

This stock hasn’t staged a massive rally, but it has been climbing higher along a steadily rising support level; notice how SWN has managed to rebound off its 200-day moving average ( yellow line) on several occasions this year. With SWN currently trading near support, we feel that jumping into a long position here is attractive; traders can reap the benefits of a rally in the coming days while still closely managing their downside risk with a tight stop loss.

Spectra Energy Corp. (NYSE:SE)

Consider SE’s one-year daily performance chart below.

SE

Click to Enlarge

This stock appears to be climbing higher along a fairly steeply sloping support level (blue line) since the start of 2013. Judging by SE’s ability to hold support above $33 a share over the past few weeks, we feel that this stock is poised to remain on an upward trajectory. In case the uptrend reverses, traders should utilize a stop loss at or below recent support around $33 a share.

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Disclosure: No positions at time of writing

This entry was posted in Energy, Trading and tagged COG, SE, swn. Bookmark the permalink.

Commodity HQ is not an investment advisor, and any content published by Commodity HQ does not constitute individual investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities or investment assets. Read the full disclaimer here.

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