Mar. 2 at 3:48 AM
Studying past charts of oil stocks this weekend, I’ve noticed several things.
During the last Israel-Iran War in April, 2024, major oil stocks like
$CVX and
$XOM went steadily upward an average around just 5% during the hostilities from April 1 through 12.
Meanwhile small oil stock
$BATL rose steadily 20.8%, gapping down early though 21.9% on April 11, 2024, giving up all its gains and a little more. Small oil stock
$TPET gapped up a total 158% on both April 1 and 2, rising through both the 20 and 50 Day SMAs, before falling back to retest the 20 Day SMA at 2.2, before rising 78% April 4 and 5, falling back to test the 20 Day SMA again at 2.4, then skyrocketing up 492% to April 15 before falling halfway back down.
So, oil stocks all rose, just in a range from +4.4% for
$CVX to a combined total of 728% across three upswings for
$TPET in April, 2024.
While individual stocks shouldn’t be expected to precisely follow past patterns, their prior behaviors can provide guides to act from.
