This is my first post, so I'll keep it short.
My Impressions...
Fundamentally: Bullish. This company is expected to start pumping oil in early 2019. Keep an eye on oil prices.
Technically: After going below the 200MA on daily chart, I think there's strong potential to get a better entry so rather than illustrate a stop, I've attempted to include an accumulation zone in yellow.
My trade:
I'm long from 42.20 with only 10% of what I've set aside for this trade as I'm quite cautious when there's not really a strong Technical case to enter yet. If we move much lower I'll take the opportunity to lower my average cost.
Timeline:
Never can be 100% but I'm happy to sit back and see if I can improve my entry over the next few months.
My Impressions...
Fundamentally: Bullish. This company is expected to start pumping oil in early 2019. Keep an eye on oil prices.
Technically: After going below the 200MA on daily chart, I think there's strong potential to get a better entry so rather than illustrate a stop, I've attempted to include an accumulation zone in yellow.
My trade:
I'm long from 42.20 with only 10% of what I've set aside for this trade as I'm quite cautious when there's not really a strong Technical case to enter yet. If we move much lower I'll take the opportunity to lower my average cost.
Timeline:
Never can be 100% but I'm happy to sit back and see if I can improve my entry over the next few months.