Have been waiting for the bottom to form for the past year, finally looks like it might be there for a rebound.
Price spent past couple weeks building around $.50 and today's boost definitely could have solidified the bottom.
I have yet to take this trade, however, since as I've stated in the past, the stock is pretty terrible and the company is in danger of running out of cash over the next 6-9 months IF they do not get FID on their Driftwood LNG Terminal in Louisiana.
Again, once (IF) that happens, price will likely go up 60 - 100% that day, which is something I probably would not want to miss out on.
However, if price breaks below $.50 from here and FID becomes less of a reality, the company will likely go bankrupt.
Trade with caution on this one, but don't be surprised if it completes Wave 1 within the next couple weeks.
Best of luck
Price spent past couple weeks building around $.50 and today's boost definitely could have solidified the bottom.
I have yet to take this trade, however, since as I've stated in the past, the stock is pretty terrible and the company is in danger of running out of cash over the next 6-9 months IF they do not get FID on their Driftwood LNG Terminal in Louisiana.
Again, once (IF) that happens, price will likely go up 60 - 100% that day, which is something I probably would not want to miss out on.
However, if price breaks below $.50 from here and FID becomes less of a reality, the company will likely go bankrupt.
Trade with caution on this one, but don't be surprised if it completes Wave 1 within the next couple weeks.
Best of luck
Wave 1 complete.
Rejected hard below long-term trend to close today's session.
Some good fundamental developments happened to enable this wave to complete on-time, such as the ousting of former CEO Souki and a PE fund boosting it's equity stake in TELL by 2.1% (7.3% total).
These moves give investor confidence and cash to the company, which they need in order to secure funding for Driftwood.
Hoping for a grind down now to $0.7.