This energy stock may be worth keeping an eye on.


I found it from CUE INSIGHT.

Oil is up today. USO is up by more than 4%, and ERA is up by more than 7%. Its earning was a few days ago. After that, initially, the price tried to go down but steadied.

There was a Bullish Headwind a few days ago. Price is above that low. And it also created a false downside breakout. It is even looking like creating a cup-and-handle in the daily.

Great fundamentals, but its industry is not strong, though it may recover if oil goes up.

If the stock breaks out of Memory resistance, that may be associated with industry picking up. And that may give a buying opportunity.

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It was worth keeping an eye on $ERA. I did keep an eye when I shared the idea two trading days ago. Did you?

1) I took a position when I shared the post. It was below the Memory resistance and I was watchful of the stock.

2) Today the price opened above the Memory resistance and going up as of ~10 AM EST. I have more than 8% profit in two trading days.

For swing trading, I am not unhappy with 8%+ profit in two days. I am going to make sure I book a profit in the trade. I don't like to turn an 8% stock profit into a loss. That is not the CUE way.

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