# Watchlist Week of May 30th, 2022

Canonical: https://stocksurgedaily.com/watchlist-week-of-may-30th-2022/

## **Aris Water Solutions, Inc.**

**Aris Water Solutions, Inc.** (ARIS) is a recent initial public offering (IPO) currently forming its first base.

The company operates as a regulated water utility company and has a market value of $1.7 billion at current levels.

![](https://lh6.googleusercontent.com/oZOr7OpDdnALHsMBKwFxfxv1mrFgpeZCOb0iJMPdbce75n4z1oszRtE2e26vJrvf5_pILLVIjQEd4XtNSjEZDSLcOyzAzSsNaMZnrtARH9UHreBsEtPK6tc7z6SNF9f7sJ_2gT0gmym1Pk1nOA)

**_Daily Chart of Aris Water Solutions, Inc. (ARIS) -- Source: TradingView_**

*   **Surge score: 96/100**
*   **% Above 52-wk low: 94%**
*   **Sales growth: +54%**
*   **Return on Equity: N/A**
*   **Triple momentum: yes**

Price came strong off the lows, rallying 94% during what has been a vicious bear market this year.

This is a real sign of strength, and the stock could take off if the market rallies from here.

Shares formed a “cup with handle” pattern over the last several weeks, and I am looking for a strong move above $19.50 on decent volume.

Consider placing a stop at $18.25 for a low-risk trade.

## **United States Oil Fund, LP**

The **United States Oil Fund, LP** (USO) is a $2.9 billion exchange-traded fund (ETF) that tracks the price of crude oil. It trades like a regular stock.

![](https://lh6.googleusercontent.com/mwe9CzedxE4BZfpgrYkWBzuX0vbEcX5YzSLzkwme0AXgzAot_sSQ5D_0GOj7amcr67YcDlgTlsx6ea03FIxXQCy6hf6-_ch9Dm0he2em00-Vw0Hl05rjNCzYUw8NRfhTXsiyWRQXwIttgIBa2Q)

**_Daily Chart of United States Oil Fund, LP (USO) -- Source: TradingView_**

*   **Surge score: 98/100**
*   **% Above 52-wk low: 95%**
*   **Sales growth: N/A**
*   **Return on Equity: N/A**
*   **Triple momentum: yes**

Oil had a big surge at the beginning of the year, but price got ahead of itself.

It has since consolidated in an orderly fashion with pullbacks shallowing from 23% down to 6%.

It is now breaking above the $83 resistance area and attempting to make a run.

Volume declined greatly in the weeks leading up to the breakout, which is generally a sign of decreasing supply and a lack of sellers… both good things for bulls.

I want to see a strong move higher on a spike in daily trading volume.

Set a stop loss about 7% below the entry for protection.

## **Northrop Grumman Corporation**

**Northrop Grumman Corporation** (NOC) is a $72.6 billion aerospace and defense company.

It’s been a top-performing stock this year. Shares are up 22% year-to-date, while most stocks are down significantly.

![](https://lh3.googleusercontent.com/IFsJscl6AZkBsoHCdhJertgxY9N5vCz6m27zC7FicBTRETZp3clFedY8nD7CO7Wfv7RtSmrvEjLLrlPkBx-tSFLhavkwfAn2bPVRY4yh2ToeT89Jl2Tsot2O9Pa-iG8jWsZfsDbCWDre0i2siQ)

**_Daily Chart of Northrop Grumman Corporation (NOC) -- Source: TradingView_**

*   **Surge score: 95/100**
*   **% Above 52-wk low: 37%**
*   **Sales growth: -4%**
*   **Return on Equity: 32%**
*   **Triple momentum: yes (short)**

After a big move higher in late February, NOC has consolidated and formed a tight base pattern.

Volume is drying up, price action is tight, moving averages are pointing higher and relative strength scores 95/100.

All factors point to a potential breakout in this stock.

I will consider buying if NOC trades above $476. As always, I want to see a breakout on above-average volume.

Once triggered, my stop loss would be at $441 for a 7% risk on the trade.