Don't Ignore This Chart!

Helix Energy Breaks Out, SCTR Surges Above 90

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Energy stocks have been strengthening throughout 2016 and Helix Energy Solutions (HLX) is a small $900 million market cap company that just broke out his past week.  Its SCTR rank has quickly soared to above 90 after recently printing SCTR readings in the single digits for several months.  Check out the chart:

The breakout occurred near the 7.00 level with volume expanding.  A pullback to that 7.00 level with lighter volume would represent a solid reward to risk entry point.  The rapidly rising 20 day EMA, currently at 6.47, should also provide solid support.

Happy trading!

Tom

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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