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30/09/22

10:28

Post #: 63959304
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Originally posted by 1ronnie: ↑

..yes, Oil (energy) sector is favoured by many investment houses as the place to hide.

..Energy sector has outperformed all others for sure.

..But that does not make it Oil stocks the best place to be in now. As you can see WDS share price has done nothing since April this year, now sitting at major support level (see 1 year and 5 year) but still above uptrend line (possibly not for long).

..Its no consolation that being more favoured on a relative basis, oil stocks have not been hit as badly as tech, resource, financials , that's why its an equity sector that remains positive, but what good is that if it also falls despite falling at a smaller pace , what's more important is what is its outlook in 6 months?

..Tell me a time oil stocks do well in a recession.

1 year view then 5 year view
https://www.tradingview.com/symbols/NYSE-WDS/

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Hey Ronnie,
How is your ASN conviction hold going? The chart is looking an awful lot like a H & S.
It was a great call btw.
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