52-week highs in a bear market?

And I don’t think it’s over yet… Good Morning! While the mainstream media is pitching doom and gloom… And analysts are predicting that we haven’t seen a bottom in the market yet… …the word ‘recession’ is being mentioned a lot more at dinner discussions and the [crypto]( market has been anything but stable. Luckily, you don’t have to make sense of that to make money in this market. And you don’t have to be a bear to profit. I even spoon-fed you a stock from my weekly watchlist … THAT JUST HIT A 52-WEEK HIGH! More on that in just a moment… Want to find the hottest plays daily? [Get access to 40+ built-in scans with StocksToTrade]( Hot Opportunities in a Shaky Market I’ve been saying for months that I think we’re far from done with the run in oil and gas stocks. That’s why my first pick on this week's watchlist was Occidental Petroleum Corporation (NYSE: [OXY](. But OXY isn’t some penny stock, only up because of hype or a short squeeze… So, why do I like this setup? It has: - [A catalyst]( - Positive market sentiment - A pattern First, the catalyst comes from [comments]( made at the Berkshire Hathaway Inc. (NYSE: BRKB) annual meeting on April 30. Warren Buffett’s conglomerate purchased OXY during Q1 and increased its Chevron Corporation (NYSE: [CVX]( holdings… So, it looks like Buffett is bullish on oil. Second, retail traders are jumping on board as people see increased oil prices every day… Whether it’s at the pump or on our heating or grocery bill — we’re all paying more. As more people recognize these higher prices aren’t going away overnight, they’re more likely to get on their phones and buy oil and gas stocks. Lastly, OXY had [a technical pattern](. Even if you ignore the catalyst and market sentiment — remember that [technical patterns work]( A stock breaking out to new 52-week highs will show up on more traders’ scans. It’s a simple strategy and it’s easy to recognize the pattern. More scans = more buyers. Even with its roughly $60 billion market cap, OXY still had a $3 per share move. And there’s nothing but blue skies overhead! OXY chart: 1-year, daily candle — courtesy of [StocksToTrade.com]( So now that we’ve seen a big name break out, where’s the next opportunity? There are a few options… If you like trading ‘real’ stocks, Halliburton Company (NYSE: [HAL]( is a slow-mover with a massive market cap. It pulled back recently from its highs, but it’s still in an uptrend… HAL chart: 1-year, daily candle — courtesy of [StocksToTrade.com]( Like OXY, Exxon Mobil Corporation (NYSE: [XOM]( also broke out to new 52-week highs yesterday. I told students to watch for the breakout on my May 8 watchlist… XOM chart: 1-year, daily candle — courtesy of [StocksToTrade.com]( But if you want to trade volatile oil and gas penny stocks, look for [sympathy plays](. There are already a few perking up… Borr Drilling Limited (NYSE: [BORR]( also hit new 52-week highs yesterday. It has a large market cap so it’s a slow-mover. But it’s a lower-priced stock, which can be better for traders with a [small account](. BORR chart: 1-year, daily candle — courtesy of [StocksToTrade.com]( Indonesia Energy Corporation Limited (NYSE: [INDO]( spiked 30% intraday. It has a ton of resistance on the chart. But if high volume comes in, this one could get interesting… INDO chart: 1-day, 1-minute candle — courtesy of [StocksToTrade.com]( Trashy, low-float stock Houston American Energy Corp. (NYSE: [HUSA]( climbed over 20%. There was a great mid-day trade opportunity that offered roughly 50 cents per share in gains… HUSA chart: 1-day, 1-minute candle — courtesy of [StocksToTrade.com]( So, while the market might be bearish on tech and other overvalued stocks, that’s not the story with commodities… If you want to trade these oil and gas opportunities, keep your eyes on crude oil prices as the sector leader. Then, run your [StocksToTrade scans]( throughout the day, find the top movers, and look for one of [our patterns](. Have a great day, everyone. See you back here tomorrow. Tim Bohen Lead Trainer, StocksToTrade sponsored   [Find Profitable Trades In a Volatile Market]( Day traders should embrace this volatility. Looking for guidance? Get exclusive mentorship from two experienced traders, Tim Bohen and Bryce Tuohey. [Learn More About The SteadyTrade Team]( sponsored   [Man Who Called Tesla Issues Shocking New Trade]( This is all part of Elon’s plan to revolutionize this $23 trillion industry. One billionaire investor said, “Whoever disrupts this industry could be the world’s first trillionaire.” You’ll never guess the best way to play this. (If you just buy Tesla, you’re going to miss the boat.) [Click here to get the details now]( Recommended Membership Gifts   ACCESS NOW: Click to activate these complimentary membership gifts and receive daily market intel. 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