chunkyhounddog
Long

Not sure about my counts here

NYSE:KEG   KEY ENERGY SVCS INC DEL
33 3 2
But RSI shows clear bullish divergence here
Nice wave-count. Spectacular decline. What is their financial situation? Is there any hope for their survival???
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Can you draw out your target and your stop loss?
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Not too sure about their financial situation. Very hard to read the financials in a lot of the oil and oil service co's. Lot's of differed $$ and write downs. I mostly just trade the charts and don't worry about financials on swing trades.
As far as stop loss, I entered today at $.44 and had my stop set at $.40. I may bump up my loss to just under todays low ($.42).
Targets are moving constantly...assuming this was a 5 wave down and bottom today then I would expect a move to at least the wave 4 area ($.80 ish) regardless if the next move up unfolds as corrective (3 waves) or an impulse (5 waves0. Of course if it is an impulsive move could move a lot higher.....will wait and see how the chart unfolds before deciding how to approach an exit.
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