By: Scott Redler
CNQ is a Canadian energy stock that looks ready to break to new highs along with the rest of the energy sector. Last time we listed this stock was through 75ish, and it had a nice breakout move to the 80 dollar range. Since then, the price has held in nicely in that range and it looks ready to once again break out.
This is the right group to be in right now, as it seems they are taking their turn in the sector rotation. OIH has been a great trade this week as breakouts are working.
I am long CNQ and will add if volume comes in and breaks it above the $79-$80.50 area. Keep this stock on your radar.
