Sector Update: Oil & Gas Continues its Plunge

The Oil & Gas sector is the worst performing area of the market in today's trading session, currently down 1.2% on the day. The worst performing stocks in the Oil & Gas Sector currently are: 1) Nabors Industries NBR: Shares of Nabors Industries are currently trading down 4.3% from Friday's close to $25.00. The stock is nearing its 200-day simple moving average (one year daily chart), which is currently at $24.05. Shares have lost 19% since the beginning of May. 2) Denbury Resources DNR: Shares of Denbury Resources are currently trading down 4% from Friday's close to $19.22. The stock broke below its 200-day simple moving average (one year daily chart) in today's trading session. The stock has lost 14.1% over the past ten trading days. 3) EQT EQT: Shares of EQT are currently trading down 3.8% from Friday's close to $50.65. The stock briefly broke below its 50-day simple moving average (one year daily chart) in today's trading session. Shares have lost 6.8% since setting a 52-week high of $54.25 on May 3st. A bearish head and shoulders pattern appears to be taking shape on a one year daily chart. 4) Newfield Exploration NFX: Shares of Newfield Exploration are currently trading down 3.4% from Friday's close to $65.50. The stock broke below its 200-day simple moving average in today's trading session. The stock has lost 13.7% over the past ten trading days. 5) Cabot Oil & Gas COG: Shares of Cabot Oil & Gas are currently trading down 3.3% from Friday's close to $55.92. The stock has lost 7.9% since setting a 52-week high of $60.64 on June 8th. A double top pattern appears to be taking shape on a one year daily chart. Shares are looking to test their 50-day simple moving average, which is currently at $54.59.