I am loving this chart here guys, I did a fractal from 9/2017 support up to resistance on June 2018. This channel has been established since 2016 and if my chart is correct WLL should make a run to re-enter the channel. Even if WLL fails to get back into the channel the upside is massive and there is almost 0 risk. If the oil market does in fact turn down towards $10 (which I don't think is happening) then I will probably buy another 1k shares worth and keep my LT TP for $15, and probably $32. Not sure if WLL can beat that but they FA is solid with over 500 mil in cash reserves 1.5 bil sales and only 98 mil shares outstanding.
In conclusion I stay bulls on OIL, Uranium, very big bull on LITHIUM, Silver and TP on WLL around $16 Fam
this company has been going downhill since april 2019. Sure, everybody is looking to make it big by buying into penny stocks now, with the hope they go back up pre-virus crash. That's fine if the company was doing fine before, but if it was going downhill on its own, I will very careful to invest lots of money no matter what the fancy-smancy charts say.
Big_Mike716
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@Puertoplata, I agree that there is a big risk, I really am just planing on TPs $3.50-$8 and risk is nominal for me .32 per share to make 100X. and I LOL ed @ fanky-smancy
Leocryptowizard
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goin up big time loading more tomorrow
benjihyam
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Thanks for this. I agree that it'll looks like an interesting bet - especially with a breakout above $.40 or retest of $.32.
What's your opinion on the bankruptcy and how it would affect performance going forward? In doing some research, it looks like they've reached a deal for common shareholders to only get 3% of their original equity holdings when the restructuring is final. Would that affect your holdings if you were to buy it now? Or is that mainly shareholders inside of the company?
Curious to hear your thoughts about this and how it may play into the outcome
Nick21Ho68
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@benjihyam, I have the same question too, how the bankruptcy affect the company. I have strong believe on WLL stock but I am still not sure how the reconstruction work
Big_Mike716
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@benjihyam, I am thinking that this stock will make a run for 200 ema's on h4 = $3.70 (today) H2 $1.90 D1 $7.99. I think they will end up shaking off the bankruptcy and keep their shares as is. They may dilute but they already have low total shares to begin with. That being said the bankruptcy is a real risk or wild card. I will trade for these 3 ema's watch the dollar index DXY watch the crude oil PA and re-evaluate. But I think $3.50 is on the table for sure this year. Not sure about $8 yet but even the 1st TP is massive upside with nominal risk. Hope that helps brother. And I will update twitter & trading view as much as I can.
benjihyam
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@Big_Mike716, awesome thanks. I already follow you on both platforms and have been appreciating your charts. They help me challenge and clarify some of my own thinking. First discovered them from the UUUU call, layered my buys down to $.80. Originally thought it would bottom around. $1.27 but I was wrong and you were dead on.
Thinking about taking this bet with you. The chart looks very similar to other oil names that I’ve been trading - DVN and OVV but it seems to have lagged them by a few weeks in terms of price action.
Big_Mike716
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@benjihyam, nice.. I'll take a look at your oil names
sonmezosman
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Big_Mike friend are you sure it will rise?.I see It is always going down.