Trade Idea's in the Energy Sector

by James Gerrish

1. Woodside (WPL) – Has been in a confirmed downtrend since October of last year. The stock has recently broke the downtrending resistance line which is a positive. It has now formed an ascending triangle consolidation pattern which is characterised by a series of High Lows.  Key resistance sits at $44.00 and a break of this level on increasing volume would be bullish. BUY a break of $44.00. Follow with a trailing stop loss as this move could have legs.

2. Origin Energy (ORG) – has been in a consolidation pattern since May. Higher low     structures have been put in place. $16.00 is key resistance for the stock and a break up above this levels could be constructive. Initial Price target of $17.20. Buy a break above $16.00

**Please Note: This is General Advice Only**. Please see disclaimer

Disclaimer

James Gerrish is an Authorised Representative (Rep No. 352904) of Shaw Stockbroking Limited ("Shaw Stockbroking"). Shaw Stockbroking is a holder of Australian Financial Services Licence No 236048. Shaw Stockbroking, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.
 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?