Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Noble Energy Leads The Decline In The Exploration Stocks

Published 02/11/2013, 01:54 PM
Updated 07/09/2023, 06:31 AM
APC
-
NBL
-
PXP
-
1P6
-
APCh
-
PXP
-

This morning, shares of Noble Energy Inc (NBL) are declining lower by $2.10 to $113.24 a share. This stock is certainly causing weakness in many of the leading oil and gas exploration stocks. Short term traders should watch intra-day support around the $112.00 and $110.50 levels. The daily chart of NBL is selling sharply today after making a new 52-week high on Friday. This stock is very overbought on the daily and weekly time frames. The daily chart of NBL shows good support around the $103.00 area.

Some leading oil and gas exploration stocks that are declining lower today include Anadarko Petroleum Corporation (APC), Plains Exploration & Production Company (PXP), and Berry Petroleum Company (BRY). Most of these stocks are overbought in the near term. This tells us that most of the leading stocks in this sector will likely need to consolidate or pull back further before the up-trend resumes.

NBL

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.