Oil and Gas Sector Bouncing Back

The Oil and Gas Sector has been gaining strength over the past thirty minutes, after bouncing off of its lows of the day – currently up 0.61% on the session. The best performing stocks currently in the S&P 500 Oil & Gas Sector currently are: 1) Helmerich & Payne HP: Shares of Helmerich & Payne are currently trading up 1.9% from Friday's close to $59.47. The stock has strong support around $57 dating back to May 5th. 2) National Oilwell Varco NOV: Shares of National Oilwell Varco are currently trading up 1.8% from Friday's close to $70.29. 3) ConocoPhillips COP: Shares of ConocoPhillips are currently trading up 1% from Friday's close to $72.61. The stock has been stuck in a tight consolidation range ($70.05 to $74.11) since May 4th. A break above or below either level could provide a large percentage move. 4) Schlumberger SLB: Shares of Schlumberger are currently trading up 1% from Friday's close to $82.61. The stock has been stuck in a tight consolidation range ($80.59 to $86.52) since May 5th. A break above or below either level could provide a large percentage move. 5) Exxon Mobil XOM: Shares of Exxon Mobil are currently trading up 1% from Friday's close to $79.75. The stock has strong support at $78.36, dating back to March 16th. Weakness in the Sector: The following stocks are showing signs of weakness, despite overall sector strength: 1) Nabors Industries NBR: Shares of Nabors Industries are currently trading down 2% from Friday's close to $23.53. The stock has broken below its 200-day simple moving average (one year daily chart) in today's action. A test of $21.50 support appears likely. 2) Anadarko Petroleum APC: Shares of Anadarko Petroleum are currently trading down 1.8% from Friday's close to $69.18. The stock broke below its 200-day simple moving average (one year daily chart) in today's session. A test of $65.26 support appears likely. 3) Newfield Exploration NFX: Shares of Newfield are currently trading down 1.6% from Friday's close to $62.72. The stock broke below key support at $63.08 dating back to November 16th in today's action. The next area of support doesn't come into play until $58.46.