Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas and oil primarily in the United States. The company operates through two segments, Exploration and Production, and Midstream Services. The Exploration and Production segment primarily focuses on the Fayetteville Shale, an unconventional reservoir located in the Arkoma Basin in Arkansas; and is involved in the exploration and production activities in the Marcellus Shale play in Pennsylvania, as well as in Texas, Arkansas, and Oklahoma. It also engages in exploration activities in the Lower Smackover Brown Dense formation in Arkansas and Louisiana; the Marmaton and Atoka formations in the Denver-Julesburg Basin in Colorado; the Bakken and Three Forks formations in Montana; and in New Brunswick, Canada, as well as operates drilling rigs in Arkansas, Pennsylvania, and Louisiana. The Midstream Services segment provides natural gas gathering, marketing, and transportation activities in Arkansas, Texas, and Pennsylvania.
To review Southwestern's stock, please take a look at the 1-year chart of SWN (Southwestern Energy Company) below with my added notations:
SWN has been trading sideways for the last 8 months. Over that period of time, the stock has formed a clear resistance level at $40 (red). In addition, the stock has also created a strong level of support at $35 (blue) that has held since the end of April. At some point the stock will have to break one of those two levels.
The Tale of the Tape: SWN has clear levels of support ($35) and resistance ($40). The possible long positions on the stock would be either on a pullback to $35, or on a breakout above $40. The ideal short opportunity would be on a break below $35.
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