Technical pictures for Encana, Talisman, Nexen and Canadian Natural Resources are mixed. Nexen and Canadian Natural Resources recently touched all time highs. Talisman and Encana reached their all time highs a month ago and have not kept pace with higher crude oil and natural gas prices. Short term momentum indicators (RSI, MACD and Stochastics) have rolled over for Encana, Talisman and Canadian Natural Resources. Historically, Canadian energy stocks have moved higher from the end of November to the second week in June. The end of the period of seasonal strength frequently corresponds with the end of the annual Canadian Association of Petroleum Producer (CAPP) conference. The CAPP conference ends today. Uranium stock prices have a history of bottoming near the end of July and advancing to the end of February. Average return per period during the past 10 periods for investors who purchase Cameco was 18.4%. Average return per period for Denison Mines was 45.2%. History is about to repeat itself. Don Vialoux, chartered market technician, is the author of a free daily report on equity markets, sectors, commodities, equities and Exchange-Traded Funds. For more visit Don Vialoux's Web site ...
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