4 oil and gas stocks (HKEx) that woke up with a bang in 2018
Price rally with high volume is a ‘killer sign‘ indicating that there is a lot of market participation in the rally. This is taking place in conjunction with WTI’s break above 3-year high.
These stocks here could be easily picked out with a stock scanner that looks for high volume or 52-week high.
Anton Oilfield (03337.hk; ‘Petroleum & Gases Equipment & Services) – new 2-year high with highest volume over duration of this chart. Price pattern between mid-2015 till end of last year also resembles a double bottom chart pattern.
Sinopec Corp (00386.hk, ‘Petroleum & Gases’) – new 2-year high.
Hilong (01623.hk, ‘ Petroleum & Gases Equipment & Services’) – 10-month high with high volume.
Hong Hua Group (00196.HK; ‘Petroleum & Gases Equipment & Services’) – new 52-week high on high volume.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
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