Continental Resources (CLR) finds and produces oil and natural gas with core holdings and proven reserves in North Dakota and Oklahoma that are recognized to be among the best deep oil inventories in the industry.
Let's check out the charts and indicators of this new (to me) energy name.
In the daily bar chart of CLR, below, we can see that the shares have doubled in the past 12 months. CLR is trading above the rising 50-day moving average line and above the bullish 200-day line.
The On-Balance-Volume (OBV) shows a decline from October to early May followed by a modest rise. I am not sure about why the OBV line declined but I am encouraged by the rise. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.