timwest
Long

Ultra Petroleum UPL - Daily - Oversold into support levels

NYSE:UPL   ULTRA PETROLEUM CORP
228 6 6
An oversold stock in an overbought market seems like it could be trouble. It's ahead of earnings in just a few days and the last few EPS             reports show a fairly wide trading range which reveals more risk than average . UPL             can move 2 points on earnings or roughly 10%.

Volume died down a bit after the drop from the 29+ level down under $25. UPL             also held where it reported earnings back 6 months ago as it dropped down to a lower channel line.

I'll be waiting until earnings come out, but wanted to show you all this chart just so you knew about it so we would be ready once earnings came out.

Tim 8:25AM EST Friday, 7/25/2014 24.73 last in pre-market
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artuncio7
2 years ago
Great set up and like u said..only concern earnings on 7/31/14
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2use
2 years ago
But you put Long on it even though it is oversold in overbought? Would you initiate a position if the ER is positive at this moment?
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AYosof
2 years ago
I noticed the bars are red green and black what are the black ones about?
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Are you going into this trade now?
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2use
2 years ago
The volume bar is green though, why?
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2use 2use
2 years ago
Sorry, see my answer
Reply
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