I don't know if wave theory really even works but It helps me organize my thoughts. DHT and tanker companies are in a really good position with the oil collapse, but if the S&P collapses any further it could drag down everything with it. Projected EPS is around 50 cents for q2 2020, a %330 percent increase from q2 2019, at 19 cents, and reports come out may 13th. This time last year DHT traded at 4.80 a share and assuming a %330 increase of EPS, which could very well be sustained throughout the coming recession and global shutdown, the stock could be expected to itself experience a %330 increase from 4.80 and reach around $12 a share, which follows a loose trend line from previous highs, and also matches a 38.20% fib extension for wave 4 I did, which I ended up doing incorrectly :/ but maybe its a sign regardless. Let me know what you think.
Anyways, trade how you want, I will be checking this to see how correct I am and give updates as I think of things.
Im into it, but i think the most recent top is the 5th wave.. well see a bit of a correction going into earnings so i agree with what youve got 99% here.
samuraimax
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@WDERUVE could be. And because of needing alteration in wave shapes it could still make sense that this correction could be shallow, in contrast to the long, sharp corrections of every sub waves movement.