By Jeff Pierce

7.03 Update 

eng

6.10 – Energy stocks have been on a tear lately – (see EMES, CPN, VTNR, LNG) so this is a sector you should be focusing on when it has a pullback. ENG has a strong chart but it`s obviously overbought and I would not chase here. If the RSI can pullback to the 40 level on the daily chart I think that would be a safe entry to start a new position in this stock.

eng

One Response to “Look At This Stock – ENG”

  1. Russell Barbour Says:

    Hi, Nice post! However I disagree with you about the RSI on the chart for ENG. Often momentum plays come into their own when RSI > 70 and you can see that all the large moves up in price in the past on this daily chart have occurred when RSI > 70. If you look at WLDN’s chart this is also the case.

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