$NE - Target level @ 4.50 in our opinion. Noble Corp PLC finished +3.2% during Fridays trading session. IF the stock can power though 4.50, we see additional upward momentum in our opinion. MACD is flowing nice. RSI is a a little higher than we like to see, but other than that the chart looks pretty nice going into this week.
$AXAS - Target level @ 2.75 in our opinion. Abraxas Pete Corp was another stock that did well on Friday +2.30% If you take a look at the chart, we have been following $AXAS since the 1.78 levels! Another example of how great some technical analysis can be. We are watching for a 2.75 break on $AXAS. We see it as strong resistance and could see solid upward momentum if it can power through those levels.
$GTE - Target level @ 3.03 in our opinion. Gran Tierra Energy has seen great upward movement the last 4-5 trading sessions. Due to the rally phase, $GTE is approaching the yearly high @ 3.03. IF the stock can surpass 3.03 level, we think it could create even higher highs in our opinion. On the flip side, the stock is entering overbought territory. IT could very well reject 3.03 levels and see a reversal. With this being said, we will watch the charts closely.
World Futures as of 7:54PM CST
World futures are in the green as of tonight 7:54PM CST. We are now entering earnings season where companies are expected to report strong earnings. Despite the market trading at the most expensive levels since the dot come era, analyst still seem to be optimistic going into earnings reporting. Earnings for companies in the S&P 500 are expected to grow 17% according to Marketwatch. We will see if all the hype will send the overall markets north. We already saw financial companies like JP Morgan beat earnings estimates yet sell off last week. IF we continue to see this type of movement post earnings, we believe further correction can be in order in our opinion.
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