2 Energy Stocks to Buy Now

Submitted by Stockmaster2 on Mon, 03/19/2012 - 18:58

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Last week we touched on 3 stocks to buy on higher gas prices. Keep reading for more..

Today we have a couple more to add to the buy list. Chesapeake Energy (CHK) and Apache Energy (APA). Read on to see why Darth Vader loves these stocks. You should know all the reasons by now why oil & gas are up (Iran, etc.)

So, let's get straight to the stock picks, one-two shabadoo style:

Chesapeake Energy (CHK)

Over the past 12 months, Chesapeake Energy Corp (CHK) shares have traded between $20.41 and its 52-week high of $35.75. Chesapeake Energy Corp shares are now trading with a P/E Ratio of 11.3 and EPS of 2.21.

Chesapeake's chart is looking very nice, with a recent breakout from the downward-spiraling channel it's been stuck in since last August. As long as Oil stays strong, we should see CHK climb back up, hit a little resistance at $26.75, then back up the $30's. Very little downside here and a lot of upside potential.

Apache Energy (APA)

Over the past 12 months, Apache Corp (APA) shares have traded between $73.04 and its 52-week high of $134.13. Apache Corp shares are now trading with a P/E Ratio of 9.5 and EPS of 11.51.

Apache's chart is set up technically even better than Chesapeake's. The 50 day moving average just recently crossed the 200 day MA, signaling the "golden cross" that I talk about so much here at the Masters. Apache could see price move back up to $120 in short order.

Charts:

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