Energy Building In These Stocks?

JC Parets
August 29, 2019

Tuesday's Mystery Chart received similar responses, with most people looking to short the stock on a break below support.

Now, let's look at the chart and its related theme.

The original chart was an inverted daily chart of Indraprastha Gas. One of the reasons why we like this chart is because of its big base and what the implications for these types of charts are.

Now, prices are attempting a breakout above 345 that would signal the start of a new uptrend that has an initial target of 424.

Click on chart to enlarge view.

We're seeing a lot of these bases in the Energy Sector, so we've done a deep dive into the space for our Premium Members. 

Energy stocks are gaining Energy, this is a theme to pay attention to in the weeks and months ahead.

To access that Energy deep dive and all of our premium research, start a 30-day risk-free trial or sign up for our "Free Chart of the Week" to receive more free research like this.

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team

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