1. Positive divergence relative to recent price action
2. nearing a zero-line crossover
3. Of the opinion oil will be bouncing soon, SDRL should follow accordingly
A few resistance points up ahead that will need to be broken through, and a key level of support around $2.90 if it moves downwards. Also in overall downwards trend, so not currently considering an extensive long position here.
Again I am only paper trading this, and this is my first idea here. Working hard in my trading studies & aiming for big improvements over time.