Natural Gas Plays

Posted by downtowntrader | 1/22/2006 09:52:00 PM | 1 comments »

This is my third post of the day so be sure to read the previous posts.

I found a lot of intersting natural gas plays this weekend and I've been thinking that Natural gas has been oversold for some time. Although it doesn't look like we will have a cold spell anytime soon, the natural gas futures chart looks like it has bottomed.

Here is a six month chart of the natural gas contract. It hasn't been this oversold in quite some time.
NGAS may move if it breaks this large triangle.
CHK always runs with natural gas prices and insiders can't get enough shares.
EOG broke the bearish wedge, so let's see if it can follow through.
DVN broke a cup and handle type base although it still has a little overhead resistance.
IVAN has retraced 38.2% and could explode here.
XTO may be the prettiest chart this week. They broke a pretty nice base and MACD just crossed over.
I may be early on this, but this many charts in the same sector looking good at the same time looks very promising to me.
Good Luck,

DT

1 comments

  1. Anonymous // 2:55 AM  

    great charts, as usual!