Stock Chart Analysis SPN

Posted by downtowntrader | 7/22/2007 08:19:00 PM | 2 comments »

Stock Chart Analysis SPN

Superior Energy Services, Inc. (Public, NYSE:SPN)

SPN has been trading sideways after breaking out of a multi year base. Usually these triangle like patterns end up resolving as continuation patterns which would predict a breakout. While I've been suspect of the oil sector short term, SPN looks like a pretty good candidate if the strength continues.


Good Trading,


Joey

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2 comments

  1. IIO // 8:58 PM  

    I'm a big fan of SPN and have been noticing the sideways trend too. It has a good trend going with earnings. They are due out again week after next, and I sure hope that helps give it some momentum again.

  2. downtowntrader // 9:05 PM  

    IIO,
    Thanks for the heads up. It may get a nice pre earnings run which is one reason I have it on the watchlist. Good Luck if you trade it,

    Joey