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published in Blogs
Aug 10, 2023

The Shale Gas industry showcased its strength, driving a remarkable +9.05% growth for companies like $MRO, $DVN, $EOG, and $CRK in the past month.

Theme Shale Gas +9.05% - month change

Tickers in theme Shale Gas - $EOG$DVN$MRO$CRK.

Swing Trader, Long Only: Growth Model (Diversified) -  Annualized Return +13%
Trend Trader, Long Only: Valuation & Hurst Model (TA&FA) -  Annualized Return +15%
Swing Trader, Long Only: Valuation & Efficiency Model for Energy Sector (TA&FA) -  Annualized Return +13%

This article focuses on a group of tickers within the shale oil sector, presenting an analysis of their recent performance and highlighting significant trends. Backed by key indicators and market data, these stocks exhibit promising potential for investors.

Group Overview: Positive Outlook Supported by Indicators The group of stocks under scrutiny is displaying a positive outlook, supported by the MA200MA50 Indicator and the Stock Fear & Greed Index. Notably, Tickeron, a prominent financial analysis platform, shares this optimism, predicting a further increase of more than 4.00% within the next month, with an impressive likelihood of 78%. In the last month, the advancing to declining volume ratio was strong at 1.6 to 1, indicating positive market sentiment.

Similar Positive Trends Across 6 Stocks: Strong Momentum Six stocks within this thematic group are following a similar upward trajectory, as suggested by the 15 indicator. The average likelihood of this trend continuing stands at an impressive 83%, reinforcing the positive sentiment surrounding these stocks.

Notable Companies: The Leaders of the Shale Oil Group Exxon Mobil Corp (NYSE:XOM), EOG Resources (NYSE:EOG), Devon Energy Corp (NYSE:DVN), EQT Corp (NYSE:EQT), Marathon Oil Corp (NYSE:MRO), ANTERO RESOURCES Corp (NYSE:AR), Range Resources Corp (NYSE:RRC), and Southwestern Energy Company (NYSE:SWN) stand as notable players within this group. Each company contributes to various aspects of oil production, including shale oil, which is known for its higher quality, albeit with a relatively higher production cost.

Shale Oil Theme: Navigating Opportunities The shale oil theme encompasses companies with diversified approaches to oil production, ranging from giants like Exxon Mobil to specialized firms such as Diamondback Energy and Pioneer Natural Resources. While shale oil extraction is costlier than traditional drilling, the higher-quality yield holds promise. Nonetheless, these stocks remain susceptible to oil price fluctuations, which are influenced by factors like economic conditions, geopolitical tensions, and domestic politics.

Market Capitalization: Ranges and Leaders The average market capitalization within the shale gas theme is approximately $51.6 billion. Market capitalizations of individual tickers in the group vary significantly, ranging from $3.5 billion to an impressive $438.6 billion. Exxon Mobil (XOM) claims the highest valuation at $438.6 billion, while CNX holds the lowest valuation at $3.5 billion.

Price Growth Dynamics: Positive Momentum The theme as a whole has demonstrated encouraging price growth dynamics. On average, weekly price growth stands at 1.15%, while monthly and quarterly growth rates are even more impressive at 9.17% and 8.04%, respectively. While most stocks are on an upward trajectory, there are exceptions such as Comstock Resources (CRK) and Devon Energy (DVN), which experienced declines in a specific week.

Volume Expansion: A Strong Indication Volume expansion is a compelling indicator for the stocks within the shale gas theme. The average weekly volume growth is 14.38%, while monthly and quarterly volume growth rates are even more significant at 43.53% and 2.68%, respectively. This uptrend in volume suggests growing interest and engagement from investors.

Stock-Specific Indicators: Momentum and Upward Trends

  1. MRO's Positive Momentum Indicator: The Momentum Indicator for Marathon Oil (MRO) turned positive on August 09, 2023. Such occurrences have historically resulted in upward trends, with odds of success at 86%. The stock's current price, trading within support and resistance lines, has displayed positive growth trends both monthly and weekly.

  2. DVN's Upward Trend: Devon Energy (DVN) exhibited a significant upward trend after crossing its 50-day Moving Average on July 07, 2023. Historical data suggests that such shifts often lead to further price increases, with a probability of 82%. The stock's price movement and resistance levels indicate encouraging growth.

  3. EOG's Bullish Movement: EOG Resources (EOG) displayed a bullish pattern with its 10-day Moving Average surpassing the 50-day moving average on July 10, 2023. Such crossovers have historically indicated an upward trend, with an 79% likelihood of continuation. The stock's current price and resistance levels reinforce this positive outlook.

Summary: Navigating Shale Oil Stocks' Promising Trajectory The analyzed group of shale oil stocks presents an exciting investment opportunity. Supported by strong indicators, positive outlooks, and upward trends, these stocks indicate the potential for favorable returns. With a mix of major players and specialized firms, the shale oil theme's dynamics provide investors with a diverse range of options within the energy sector.

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