Cabot Oil (COG) – Bullish DailyPlay for Tuesday Dec 4th, 2018
The bullish DailyPlay we chose for Tuesday, Dec 4th is Cabot Oil (COG). COG is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 1.54% move lower but its 1m and 6m trend have turned bullish yesterday and has recently bounced higher off its $65 support level.
Cabot Oil’s 1m and 6m trends turned bullish on 10/31 and recently bounced higher off its $24 support level. With a technical score of 9 (out of 10), COG is a strong stock that will likely continue higher.
As a stop loss, if COG was to trade below $24 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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