andrew.berg
Short

Lyondellbasell is heading lower to major support

NYSE:LYB   LYONDELLBASELL INDUSTRIES NV ORDINARY SHARES CLASS A (NETHERLANDS)
Fundamentals:
LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil             , producer of gasoline blending components, and developer and licensor of technologies for production of polymers.
The Gulf Coast petrochemical boom and Chinese expansion are leading to an oversupply of the world’s two most common plastics, polyethylene and polypropylene, which will result in falling prices and profits as well as delays and cancellations of plans to build or expand petrochemical plants. LyondellBasell have multi-billion-dollar Gulf coast expansion projects underway, with many planned for completion in a year or so.

Technicals:
Major pattern is descending triangle , series of lower highs tell us about weakness. Price ignored recent rally on market and now is flagging below all key moving averages. Looks like it is heading for a test of major support at $72. Break and hold below can squeez some longs for further downside movement.

Trade and Risk Management:
Break and close below $80 will trigger entry Short with Stop above $85. Target is twice further than size of our stop, which make this trade very attractive.


Поиск торговых идей,
оценка настроений рынка, сценарии и торговые планы. https://t.me/berg_stocks
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out