CHK, RIG - energy stocks rising with oil

With oil/gas prices climbing, the related energy sector stocks were naturally following. Chesapeake Energy (CHK), and Transocean (RIG), settled higher by a very significant 6.7% and 5.9% respectively. Price action remains pretty volatile, but if WTIC can break/hold $50, it will bode for broader upside for months to come.


CHK, daily

RIG, daily

Summary

Suffice to add... with oil/gas prices on the rise, most energy stocks are naturally continuing their broad climb from their Jan/Feb lows.

Many of the mid/small tier stocks have already doubled up... yet there is viable upside of another 25/50% in most cases... assuming Oil to the $70s by late spring/early summer 2017.
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As ever, the USD will be a key variable that shapes broader price action. I'm still leaning on a weaker USD into 2017... which would help give oil.. .and the related energy stocks an extra boost.