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 Dow Jones shed 1.45% and closed at 33,849. S&P 500 closed at 3,964, a 1.54% change.
Amid the market gloom, United States CFTC Crude Oil speculative net positions released today at 19:30 UTC with a figure of 252,500, while the previous figure was 278,300.
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.
Moves up for 9 days and going up 2.74%: HollyFrontier closes at $36.39 after gaining 2%
Today's session pointed in the same direction — HollyFrontier Corp went up to $36.39 today after ending Friday at $35.68. Overall, a 2% move or 71 cents. Keeping up its 9 days of climbing (+26 cents), daily trading volume (4.78 million shares) was slightly above the current multiday average of 4 million.
With an average daily volume of 4 million shares. Having set a significant high of $38.62 8 months ago, the petroleum refineries company is trading 21.61% lower. So far in 2022, it has been outperforming the S&P 500 by 26.74%. The stock has been trending positively for about 8 months. HollyFrontier is forecasted to generate revenues of $4.12 billion and EPS of 41.06 cents.
A 13.85% increase in 4 days: Today's lacklustre sentiment ensured PetroChina slid 0.51%
Though in the midst of a 4 day uptrend, gaining a total of 13.85%, ($5.94), today's session suggests run might be coming to an end — during today's session, PetroChina toiled and struggled for upward momentum before closing at $46.85. By the close, the the Chinese oil and gas company 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.
Phillips 66 Partners continues climbing, currently at $42: Phillips 66 Partners closes at $42 after gaining 1.89%
Today continued on the same track for Phillips 66 Partners — Phillips 66 Partners went up to $42 today after ending Friday at $41.23. Overall, a 1.89% move or 77 cents. Phillips 66 Partners continues a 10 day uptrend, gaining a total of 1.89%. Daily trading volume (16.20 million shares) was higher than the current multiday average of 7.33 million.
With an average daily trading volume of 7.33 million shares. Phillips 66 Partners has gained $7.22 points (21.23%) over the past year, leaving its annual lows around $34.26 in the rear-view mirror. So far in 2022, it has performed better than the Nasdaq by 51.92%. On a negative trend for around 9 months. Phillips 66 Partners has a forecast of $436.47 million with an EPS of 94.5 cents.