Well, perhaps not yet. But the trend is bullish for Coterra and we have seen a downward correction with newly awakening buying interest. Thus I see a short term rally at least and can even imaging more. But let's decide this later on.
We have arrived at an (unexpected to be reached) support zone between 26.36 and 25.96. It had been tested twice in April and was a retracement level on March 10th. I expect a new rise from here the more that the uptrend is still effective.
The PEAD projected a Bullish outlook for $CTRA after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
We have an ascending trinagle witching a large rising wedge. We really need to clear 33.20 and hold at least a 4 hour candle body above. Watchig. For confirmation above that we could reach this wedge and rip hard. If we lose 32$ then this could come back to lower support of 29.30s. Def. interesting setup
Coterra Energy Inc., an independent oil and gas company, engages in the development, exploration and production of oil, natural gas, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania. The company also holds...
CTRA - Going higher?
I'm expecting a pullback to the trend line then with luck we see a bounce off the trend.
I'm just publishing this for my own history purposes. not supposed to have any valid direction or advice.
again not trading advice or ideas. just my 2 cents and to keep tabs on it for myself.
We have Hidden MACD Bearish Divergence on the Monthly and if proceeded by follow-through price action we can be in the midst of breaking through the confirmation line of a 3 Rising Peaks. Upon Breaking through i suspect it will give us an ABCD BAMM movement all the way down to a minimum 88.6% retracement but at a maximum it could go slightly lower than that.
Looking for a recovery at 0.786.
This point has been a point of both resistance and support
More recently support
This will likely continue with the double bottom formation
Beijing, in turn, will increase purchases of U.S. agricultural machinery, industrial and energy products by about $ 200 billion over the next two years.
LONG
Coterra Energy Inc. is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc. on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp. and Cimarex Energy Co. Coterra Energy was founded in 1989 and is headquartered in Houston, TX.
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