Camber Energy ($CEI) - My Swing Trade. Why ? Read On !
There is a Cantonese saying that goes something like this "作熟好過作生" that literally translates as "it is better to deal with the familiar than the new/unknown".
Apply this approach to the topic of "Which stock would I pick for swing trading?" I ended up with stock - $Camber Energy(CEI)$
It is a "nostalgic" stock pick because it was my "Sell" trade in Dec 2022. I have a post to prove it as well. Click here to read about it. LOL !
For those who have been reading my posts for a while, you would've known by now that I am keen in Energy stocks amongst others.
Been trying to keep tab of all news "energy".
Diving Headlong Into Energy Futures
Energy Futures price performance as of 25 Jan 2023
- Looking at US Energy Futures price performances for 24 Jan & 25 Jan
- Prices for all 3 energy types (Crude Oil, Gasoline & Diesel) seemed to have bottomed out and have turned the corner. To further monitor though....
Zooming Into Crude Oil Futures
Crude Oil WTI - past 1 Year Price Movements
- Crude Oil peaked at $104.72 per barrel in 08 Jun 2022
- That was just about time lag required for Crude oil draw down from US Strategic Petroleum Reserves (SPR) to take its effect
- Thereafter oil prices began to "fall" and traded "horizontally" sideways from Jul 2022 onwards.
- On 30 Dec 2022, oil price was $72.41, the last day of agreement by the Biden administration to tap on the reserves.
- By then, 220 Million barrels of crude oil have been siphoned from SPR to keep fuel prices "artifically" low for Americans and to guarantee Mid-term election smooth passage.
- However, all good things must come to an end. It is pay back time now !
- With the US Administration starting to backfill and replenish the 220 Million barrels of oil consumed in less than 12 months; it will be a mammoth task that will take months; if not years to complete.
- Perhaps this is why oil prices begins to rise as the Economics Law of Supply & Demand kicks in.
Stock - Camber Energy : In Focus:
Camber Energy past one month performance
Camber Energy ($CEI) - 26 Jan 2023's Moving Average
- Looking at CEI's past month performance
- It seemed to have bottom out on 10 Jan at $1.685 per share.
- Since then stock price has climbing up steadily; with sporadic spikes and dips now & then.
- It is currently sitting just above its 20-day moving averages; that is a "telltale" sign that this might be a breakout stock & price
- All that is needed now is continual monitoring and a lot of "patience"
- Do you think Camber Energy is a "credible" swing trade stock ?
- Do you think all energy stocks will outperform in 2023 ?
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