Actionable news
0
All posts from Actionable news
Actionable news in WEC: WISCONSIN ENERGY Corp,

Looking for an Energy Stock? Consider WEC (WEC)

NEW YORK (TheStreet) -- We have started recommending some energy names in recent days as we think they can be the market leaders in the fourth quarter, but in this weak tape, we find some readers pushing back. It is tough to embrace a long idea when the Dow Jones is off 300 points. Nevertheless, we have another energy name to put on your shopping list: WEC Energy Group (WEC - Get Report) .

WEC peaked in February around $56 and turned down to $45, chart above. Note the heavy volume at the July low as someone sold aggressively and someone else bought. Since the summer, low prices have improved and the On-Balance Volume (OBV) line has been rising and confirming this early bull move.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks with serious upside potential in the next 12-months. Learn more.

This second chart, above, shows us a stock we want to be involved with, boasting a nice uptrend with a rising OBV line. With this longer-term perspective, the price action this year looks like a correction in an ongoing bull.

What's our strategy? Traders could be patient and look...


More