This article is for education purposes only, and not to be taken as advice to buy/sell. Please do your own due diligence before committing to any trade/investment.
How would you describe 2023 in one word?
Rewarding?
Profitable?
Challenging?
The US stock market has been extremely kind to traders, with long periods of bullish moves, and equally long periods of bearish moves before the bulls took full control since November 2023.
Before I introduce the stocks I’m watching, let’s have a look at the 2 stocks shared last month: Global Payments and Royalty Pharma.
Shortly after Global Payments was shared, an entry appeared. Did you enjoy the run-up?
On the other hand, there was no entry signal for Royalty Pharma.
Ok, let’s move on and analyze the 2 stock picks for the New Year!
Murphy Oil (NYSE: MUR)
Source: ir.murphyoilcorp.com
1. About the Company
Murphy Oil is an energy exploration and production company.
Founded in 1950, it quickly won contracts from the biggest players in the industry such as Shell Oil Company.
Through acquisitions and its listing, the company expanded quickly, building a strong presence in Southeast Asia.
With its storied past, is this company past its prime?
2. Position Trading (Daily)
Glancing at the price chart of Murphy Oil, you can tell that it’s on an uptrend.
How?
By comparing the number of blue (outlined and solid) candles against the red (outlined and solid) candles.
There are clearly more blue than red candles, indicating that its share price is in an uptrend. Therefore, you should be looking for buying opportunities.
Without the need for any technical tools, you’ll be able to tell if the time to buy its shares is here.
This can be inferred from the 2 main indicators on the chart – the green arrow and Trend Impulse Factor.
When there’s a green arrow under the most recent candle, a fresh bullish burst is here.
A look at the color of the bar of its Trend Impulse Factor indicator will reveal if the momentum is likely to continue for a position trade.
Both are present in the chart of Murphy Oil, suggesting that it’s ripe for a position trade!
Petroleo Brasileiro (NYSE: PBR)
Source: petrobras.com.br/en
1. About the Company
Petroleo Brasileiro is also an energy exploration and producing company.
It was also founded around the same time as Murphy Oil, in 1953.
Through strategic partnerships, the company grew to become the behemoth it is today.
Here’s the most important question to ask: Are investors keen on its shares?
Let’s find out in the next section.
2. Position Trading (Daily)
Can you tell that investors are optimistic about Petroleo Brasileiro?
This can be inferred from its strong uptrend.
I hear you asking a follow-up question: Is it time to buy its shares then?
Again, this can be deduced from the 2 main indicators on the chart – the green arrow and Trend Impulse Factor.
With these indicators, you don’t need to use any technical tools such as support and resistance.
Do you see a green arrow under its latest candle?
Combining that with the presence of a dark green bar of its Trend Impulse Factor indicator, it seems that the time to buy its shares for a position trade is here!
Conclusion
Source: pixabay.com
Both stocks lie in the energy sector.
They are also in an uptrend so you should be looking for buying opportunities with a stop-loss level in mind to protect your trading capital.
Based on the indicators, both stocks are ripe for a position trade!
Trading stocks without a proper system can be highly risky. This is why TGPS was created. The indicators will help you determine if a stock is ready for action to be taken. You won’t have to feel in the dark and make wild guesses.
What are your thoughts?
Share your thoughts with me below!
