Helix Energy Breaks Out, SCTR Surges Above 90
Energy stocks have been strengthening throughout 2016 and Helix Energy Solutions (HLX) is a small $900 million market cap company that just broke out his past week. Its SCTR rank has quickly soared to above 90 after recently printing SCTR readings in the single digits for several months. Check out the chart:
The breakout occurred near the 7.00 level with volume expanding. A pullback to that 7.00 level with lighter volume would represent a solid reward to risk entry point. The rapidly rising 20 day EMA, currently at 6.47, should also provide solid support.
Happy trading!
Tom
