There is a long standing phenomenon in astrology – more of an oddity really – that says if a stock first started trading on a recognized stock exchange at the time of a Full or New Moon, then that stock can be seen to exhibit behaviour that correlates to the lunar cycle.
To illustrate this phenomenon, the embedded chart in this post is that of Canadian Natural Resources (TSX:CNQ) which started life May 13, 1976 at a Full Moon.
The arrows on the chart indicate times of New Moons and Full Moons. Study these arrow points carefully and you will see that there exists a reasonably robust correlation between price moves and these lunar events. The ensuing price move is not always a blockbuster of a move, but it is enough that if a person were contemplating taking a trade on CNQ, waiting until the lunar event delivered its impact might be warranted.
We are heading into a FULL MOON on May 25th and CNQ over the past 2 sessions has moved up in rather brisk fashion (leaving a gap on the chart) at a time when crude oil prices are showing weakness. Is some back-filling in order that will see the gap re-visited? The next couple days will tell the tale.