The energy sector has been lagging for sometime now, and from a technical view that should be no surprise. Weakness tends to beget more weakness. The simple, old adage buy strength and sell weakness rings true. Picking bottoms is never an easy thing to do and can be hazardous to your portfolio. One can be stopped out time and again and although one may eventually be correct, being early can be painful. While a sector is in a deep downtrend it pays to monitor what names are weathering the storm better than others. Once the group catches its footing they will often be the ones quickest out of the starting gate. Lets take a look at 3 that are displaying this type of behavior.
RSPP we looked at in the first paragraph of our Friday 11/20 Game Plan and suggested a weekly CLOSE above 30 would have us excited. It did so once on a DAILY basis on 11/18 but did not finish the week above. Currently it is above both its 50 and 200 day SMA showing excellent strength and rare in the energy space. Below is both chart, first from the 11/18 Game Plan and then our present feeling on the name.