HollyFrontier Corp, PetroChina Company Limited, Phillips 66 Partners LP are the ones to notice as they lead energy stocks on an uptrend.
Leading equity indices in the US declined as after dropping 1.95%, Dow Jones closed at 32,500. S&P 500 shed 2.08% and closed at 3,748.57.
On the flip side, data for United States Crude Oil Inventories published yesterday at 15:30 UTC came out at 3.92 million, beating projections of 1.36 million and showing improvement over the preceding figure of -3.12 million.
What is an uptrend?
A trend is the overall direction of a market or an asset's trading price over a certain period. An uptrend is when the price is generally pointing upwards; there can be certain periods of time when the price falls, yet the trend remains in an upward direction.
A 9 day uptrend, goes up by 2.74%: HollyFrontier on track to post record single day jump of 71 cents points (+2%)
HollyFrontier Corp continues a 9 day uptrend, gaining a total of 2.74%. HollyFrontier pointed in the same direction yesterday: HollyFrontier went up to $36.39 yesterday after ending Tuesday at $35.68. Overall, a 2% move or 71 cents. Daily trading volume (4.78 million shares) increased, making up 119% of the 21-day average (4 million).
A 4 day, 13.85% rise: PetroChina traders look to claw back yesterday's 0.51% decline to maintain ongoing trend
Though in the midst of a 4 day uptrend, gaining a total of 13.85%, ($5.94), yesterday's session suggests run might be coming to an end — during yesterday's session, PetroChina toiled and struggled for upward momentum before closing at $46.85. By the close, the PetroChina suffered a 24 cents or 0.51% loss. PetroChina's recent uptrend could be petering out after the company eclipsed its average daily volume of 41,541 by 441% today.
A 1.89% increase in 10 days: Solid session for Phillips 66 Partners generates 1.89% gain yesterday
Phillips 66 Partners is on a 10 day bullish run gaining 0 cents (1.89%). Phillips 66 Partners stayed on track yesterday: Phillips 66 Partners went up to $42 yesterday after ending Tuesday at $41.23. Overall, a 1.89% move or 77 cents. Daily trading volume (16.20 million shares) was higher than the current multiday average of 7.33 million.