PWE (Penn West Petroleum Ltd) will be added as a new Growth & Income Trade Idea here around the 8.50 level with a suggested stop on a solid weekly close below the uptrend line. This Canadian energy stock recently cut its dividend but is still paying out an attractive quarterly dividend of 14 cents for a current yield of 6.59%. The stock does have decent horizontal resistance about 30 cents overhead at the 8.80 level. Therefore, one could also wait until that level is cleared before initiating a new position or adding to an initial position taken here.
Growth & Income Trades are longer-term swing trade or investment candidates expected to generate an above average dividend yield and capital appreciation. Growth & Income Trades are a sub-category of the Long-Term Trades category. As several Growth & Income Trades recently hit their final profit targets about a month ago, I will be working to add some new trade ideas to this category. As always, any trading or investment ideas are welcomed. Please use the Contact page to forward any trade ideas, including any high-yielding stocks or closed-end funds that might look compelling.
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