Replies to post #454 on Abraxas Petroleum Corp (fka AXAS)

[Belek]

I just checked another set-up strategy, and

AXAS just borderline resting on the 50ema which is fine,

it may dip a little but the prefered scenario is for the price

to stay above the 50ema, otherwise stops may get hit.....later

[Belek]

today worked out fine...........

could go a little tomorrow.........

[Belek]

sent you email of

Oil & Energy ,,,I like the How One Idea Became Three trade.........

good luck

Jeff
,,,,,$$$$$

[Belek]

definitely not a good picture, but the oscillators are getting to the over sold

condition now, I'll wait until tomorrow

[Belek]

AXAS heading to that support line about $3.08

if it breaks that im out with a small loss but will be back in at lower price

probably the 200ma

tomorrow will tell the story

[Belek]

earnings revision upward,, stock price will follow suit over time

Zacks By Zacks Equity Research
March 14, 2014 3:32 AM


Abraxas Petroleum Corp. (AXAS) was a big mover last session with shares rising nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent downtrend of the company, as the stock has now lost over 3% in the past one-month time frame.

This independent energy company has witnessed four positive estimate revisions in the last 30 days. The Zacks Consensus Estimate has also moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s price action can turn into more strength down the road.

Abraxas currently holds a Zacks Rank #2 (Buy) while its Earnings ESP is positive.