Stand aside - Hold - Too Risky to invest in to it.
Oasis Petroleum Files For Bankruptcy aiming to emerge from bankruptcy in November, subject to court approval.
Oasis Petroleum Files For Bankruptcy; Stock Sinks 14%
Looks eerily similar to WLL, just bulls have been trying to send the price up, which I noted on the chart under the RSI comment. I think WTI is heading back to $20 Fam, maybe not in a straight line but I think the WTI price is showing weakness and all the shale Companies are showing signs of that weakness
So my conclusion is watch and wait, this could be the beginning of a greater move down in WTIC back to the $20 handle or this could be the area where oil makes 1 last pump B4 that downward move I spoke of. All we can do is wait. I will say the fact that OAS hasn't really moved much while WTIC pumped off $38 is a bit concerning.
OAS has moved into a Descending triangle/ wedge. Starting to average in right now between $1.10 and 1.20 w/ a target of $2 short term. The uptrend has already started from $1 support. Breakout is above upper resistance roughly $1.20. Strong trade w/ great gains. Like, comment, share. CHEERS!
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I am not a financial advisor and i do not advise taking any of my trades that i post, because of the risk.
The analysis is purely for entertainment and idea what could happen with this stock.
if you have any questions feel free to ask.