Friday, August 22, 2014

Chevron Corp Leads Integrated Energy Stocks Lower

This morning, most of the leading integrated energy stocks are coming under selling pressure. Leading integrated energy stocks such as Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), ConocoPhillips (NYSE:COP), and BP plc (ADR) (NYSE:BP) are all declining at the start of the today's trading session. Day traders should watch for intra-day support around the $126.14 level. This is an area that will likely be defended by the institutional money and could give day traders a short term bounce.

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Nick Santiago
Chief Market Strategist
www.InTheMoneyStocks.com