Interesting technical situation. On the one hand, there is a good uptrend, which was broken during a sharp decline in oil prices in 2014-2015. Nowever, this was quickly bought out, as a result of which the price quickly returned to the trend. On the other hand, if oil prices go down sharply again, the price can very quickly reach $30 per share. I'm planning to buy and hold this stock for several years, so I will buy in parts. I'll buy @ $40-50 (first part) and if we break the trend line, I'll try to buy more near $30.
Trade active:
Closed half of my position @ possible resistance near $70-75