Oil traders buy oil spot and sell it forward to take advantage of unsually large contango on the futures curve. 6 month forward on brent and wti sells at a premium exceeding 10$ a barrel. Shortage of land storage pushes oil traders to store oil on water using ships. There are only about 800 VLCS (Very Large Container Ships) and the daily rental price has...
Explained in the graph. Looking for price target, $11.51, to reach in 3 to 4 weeks.
Volume picking up at the bottom of a channel. stochastics starting to reverse back up
If we break below here, we'll likely see single digits again. A good spot to buy with a stop loss just below
EURN broke to the downside after the bottom trend line failed to provide support. Fundamentals still look good with rates remaining well above last year. I'm expecting a break back above the trend line.
Unfortunately the previously posted trend line broke. I'm expecting a bounce around 11.6-11.8 and perhaps another attempt at a breakout by the time the release Q4
European shipper breaking out from a 3 year range/box/base trading on more than 2X Vol Avg Plenty of room still on both RSI and MACD Ideally we get a pull back and retest of the breakout area 9.50-10.00 and then resume upwards Calculated target of the move is 12.35
extremely overbought... 10% Correction should be possible.
EURONAV the oil shipping company shows a nice opportunity to reach higher price level in the short term. The stock has fall dramatically from its peak in late 2015 to reach a low in august 2017. If the stock can trace back through the 1st fibonacci level at 8.18 € there is a good opportunity for the stock to reach the next level at 9.54 (+16.5%) and to go even...
EURN looks to be settling into a rounded bottom. We will need to watch this one closely. If you are one of those that think crude oil prices are going to go higher this might be a good stock for you to think about.
Price has been recovering above the EMA15, forming a five-day sideways consolidation. Price may rally towards the US$9.65-US$10.00 levels. Support will be pegged around US$7.88
Euronav #EURN is ranging between 9.50 USD and 11 USD. Currently we are close to the support zone and might want to long from here.