Energy stocks, crude oil, and the XLE energy ETF all flashing buy signals. $100 oil looks invitable.
From failed moves come fast moves, and oil/energy stocks failed an attempted breakdown below the neckline.
A few favorite long ideas: $LPI, $AMPY, $XLE, CL1 (futures), $XOM
Great indicators as follow:
1. Stoch RSI at oversold level
2. Fibo levels followed
3. MA arrangement supports a clear uptrend (15 over 21 over 50 over 200)
4. Almost tweezer bottom SOR
Inputs are highly appreciated!
This a company that will survive this pandemic and will see the highest oil prices on record in the coming times. Literally no put options on because it will be dumb to short something that is undervalued. It is understood debt levels are there but they are no where near the point to have conversations of bankruptcy. Made alot money on this stock. Its got heavty...