12 Best Energy Stocks to Buy Now
OptionsZone Experts, June 3, 2009
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Energy Play #7: XTO Energy (XTO)
By Sam Collins
This gas and oil developer, driller and producer fell from a high of over $73 in June 2008, to under $24 in October, and then formed a base with support at around $30 and traded there for five months. Then, in March, high-volume buying occurred, which triggered our internal indicator, the Collins-Bollinger Reversal (CBR), to flash a series of buy signals.
After breaking through the 200-day moving average, XTO Energy (XTO) gapped to a high of over $45, and is currently pulling back on profit-taking. XTO could stabilize at its current price, and a technical reading gives a target of $55 to $60.
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