logo
  Join        Login             Stock Quote

Sunoco Inc. (SUN): A Chart Breakthrough And Oil Prices To Makes SUN's Price Shine?

 March 02, 2010 02:20 PM
 


Sunoco Inc. (SUN) might prove to be a smart short-to-mid-term trade for inventors looking to take advantage of a growing economy and seasonal higher summer fuel costs.

And the timing might be right too. At the close of yesterday's trading, SUN's stock chart produced a positive MACD crossover, a technical analysis buy signal. The MACD measures the convergence and divergence of moving averages.

In other words, are the short-term or longer-term averages leading the way? When the shorter averages are winning, it's usually good for investors. One of the most powerful and opportune times to take action on a stock is when the short average crosses from below to above its longer cousin – the positive MACD crossover or the 50 day average moving above the 200 day average to name the most commonly used .

[Related -The 2013 Dividend Achievers]

SUN looks like it's headed to $29. If $29 proves to be a temporary stopping ground, $30-$31 is up next. Obviously, the price of oil will push and pull SUN and all oil related stocks depending on oil's daily price swings.

Liquid black gold's price looks ready to spout higher. Like our Sunoco chart, oil's short-term moving averages are passing by the longer averages. This usually sets the stage for higher prices. Eighty-four dollars will prove to be a pivot point,  a close above it and $90 oil is our future, maybe $100.

The tail side of the technical analysis oil coin is if $84 holds and the price heads south. Right now oil is setting a series of higher highs and higher lows, again, usually another sign that prices could be on the upswing. Failure to set a new high would temporarily suspend the walking up steps trend and could put selling pressure on oil's price.

iOnTheMarket Premium
Advertisement

Advertisement


Comments Closed


rss feed

Latest Stories

article imageHealth Net, Inc. (HNT): Potential to Be Huge Winners Says Bank of America

As of this keystroke, Health Net, Inc. (NYSE: HNT) shares are up around 4% on the day. The managed health read on...

article imageHomeAway, Inc. (AWAY) Q2 Earnings Preview: Top and Bottom Line Bullish Surprise?

HomeAway, Inc. (NASDAQ:AWAY) will report its financial results for the second quarter ended June 30, 2014 read on...

article imageAmazon.com, Inc. (AMZN) Q2 Earnings Preview: Missing on the Top and Bottom Lines, Again?

Amazon.com, Inc. (NASDAQ:AMZN) will release its second quarter financial results after market close on read on...

article imageFord Motor Company (F) Q2 Earnings Preview: Light on the Top Line?

Ford Motor Company (NYSE:F) will release its preliminary second quarter 2014 results at 6:30 a.m. EDT read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.