USO Stock Summary and Trading Ideas (United States Oil | ARCA:USO)

The investment objective of USO is for the changes in percentage terms of its units net asset value (NAV) to reflect the changes in percentage terms of the spot price of light sweet crude oil delivered to Cushing Oklahoma as measured by the changes in the price of the futures contract for light sweet crude oil traded on the New York Mercantile Exchange (the NYMEX) less USOs expenses.

United States Oil trades on the ARCA stock market under the symbol USO.

As of April 23, 2024, USO stock price climbed to $79.98 with 3,169,666 million shares trading.

USO has a beta of 0.04, meaning it tends to be less sensitive to market movements. USO has a correlation of 0.00 to the broad based SPY ETF.

USO has a market cap of $1.71 billion. This is considered a Small Cap stock.

In the last 3 years, USO stock traded as high as $92.20 and as low as $41.74.

USO has underperformed the market in the last year with a price return of +17.3% while the SPY ETF gained +24.3%. However, in the short term, USO had mixed performance relative to the market. It has outperformed in the last 3 months, returning +14.8% vs +4.9% return in SPY. But in the last 2 weeks, USO shares have been beat by the market, returning -2.7% compared to an SPY return of -2.5%.

USO support price is $77.80 and resistance is $79.76 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that USO stock will trade within this expected range on the day.