By the way in my past ideas published I shared some stocks with the argument of strong Crude Oil and the opportunity to Buy Energy Companies but I made the comment that no all energy stocks are having a good moment. And I like to find this Stock for share because in the investing world there a savvy advice that say something like identify the strong sector and buy stocks of this companies but this do not mean you can buy whatever name without make the homework or buy something you heard out there where the hairdresser
I want to take this heated moment to introduce my first short idea. Strictly from a technical point of view and with speculative intentions only with a short term holding period and with a specific price target. The price target is 30.00 based in the past support. The trade holding period can go to one or two months, it depends in how many time takes the price to reach the target.
Now I go the technical aspect of the situation and is very simple without the use of indicators and other fancy stuff. Only .
Weeks ago the price drops and breakout a in the area of 36.60 approximately. And then the past week the price make a pullback and test the past support that now became resistance.
I do not use indicators but I use the moving averages like a point of reference and in my opinion the price need more time for consolidate. Other important thing for considerate here is the pullback to 37.60 area and the immediate rejection
I do not use short interest here because for selecting trades because this is pure price action for opportunistic speculators with short term holding period.
That's all :(