Two Energy Producers Breaking Out

The charts of two very different energy producers have very similar weekly chart patterns that are breaking out from extended consolidation channels.

Consol Energy (CNX) is a coal and natural gas producer. The stock price has been moving sideways for about six months and is currently retesting channel resistance. Stochastics has made a bullish crossover above its centerline and the slope indicator, which reflects the rise-over-run of a straight line of closing price, is crossing above its 21-period average and its centerline. The green Bollinger bands on this timeframe are within the Keltner bands, which are another methodology of bracketing price fluctuations. On smaller scales this is seen as a squeeze alert and often is followed by a volatile move. Money flow is positive and the money flow index, a relative strength measure of money flow, has crossed above its centerline....176 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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