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One energy stock is flashing a bullish signal into new year

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One energy stock is flashing a bullish signal into new year $XLE (via TradingNation)

, equity strategist at Miller Tabak, said a break higher was overdue after a terrible year.

"On a technical basis, I also like the stock. If you look at the weekly chart, it's already broken above its two-year trend line going back to the very beginning of 2018. It's also broken above the neckline of an inverse head and shoulders pattern," Maley said.

 

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