EQUINOR (EQNR) | Important Signs For Further Growth!
Hi,
Equinor ASA, an energy company, explores for, produces, transports, refines and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally.
Fundamental pros:
1. Trading below its fair value.
2. Good PE and PEG ratio.
3. Earnings are forecasted to grow.
4. A lot of insider buying.
Technical pros:
The correction, which started at the end of 2018, has started to show some positive signs for further growth.
1. The price has made a breakout from the down-trendline aka counter-trendline. Counter-trendlines breakouts are a pretty powerful tool to follow, especially when we have a really strong starting platform as Equinor has it at the moment.
2. Actually, the price made a breakout a couple of weeks ago and it has already retest it and again, it got a rejection upwards - the trendline which worked previously as resistance becomes support.
3. The trendline starts to work as support and there are also Weekly EMA 200 and Monthly EMA 50 which also should act as support levels.
So, we have a pretty solid support level under the current price which is very good considering the breakthrough the counter-trendline.
To show that mentioned "strong starting platform", we have to dig into the Monthly timeframe:
The price got a pretty amazing rejection from a super-strong price level, it stays between ~150-160. A lot of criteria matched almost perfectly (strong support, AB=CD, Channel projection, Fibonacci golden ratio, EMA) and the rejection formed the strongest candlestick pattern ever lived (massive hype :D) - Monthly timeframe "Morning Star" has formed around the strong area!
It depends on your investment horizon but the good entry should stay between the current price, 173, to 160 (in case it makes a tiny correction) but as said previously - luckily we have strong support just below the current price. The first target is around the psychological number 200 which should offer us about 17-20 percent profit.
Do your own research and if this matching with mine then you are ready to go!
Please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You!
Best regards,
Vaido
Equinor ASA, an energy company, explores for, produces, transports, refines and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally.
Fundamental pros:
1. Trading below its fair value.
2. Good PE and PEG ratio.
3. Earnings are forecasted to grow.
4. A lot of insider buying.
Technical pros:
The correction, which started at the end of 2018, has started to show some positive signs for further growth.
1. The price has made a breakout from the down-trendline aka counter-trendline. Counter-trendlines breakouts are a pretty powerful tool to follow, especially when we have a really strong starting platform as Equinor has it at the moment.
2. Actually, the price made a breakout a couple of weeks ago and it has already retest it and again, it got a rejection upwards - the trendline which worked previously as resistance becomes support.
3. The trendline starts to work as support and there are also Weekly EMA 200 and Monthly EMA 50 which also should act as support levels.
So, we have a pretty solid support level under the current price which is very good considering the breakthrough the counter-trendline.
To show that mentioned "strong starting platform", we have to dig into the Monthly timeframe:
It depends on your investment horizon but the good entry should stay between the current price, 173, to 160 (in case it makes a tiny correction) but as said previously - luckily we have strong support just below the current price. The first target is around the psychological number 200 which should offer us about 17-20 percent profit.
Do your own research and if this matching with mine then you are ready to go!
Please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You!
Best regards,
Vaido
A great bounce upwards from the mentioned area and let's see how 2020 will play out for Equinor!