This channel up on the four hourly chart has broken.
Another move down is likely as this has only recently occurred and support isn't justified.
Bearish state while below this channel.
An idea showing the formation of the right shoulder following a bearish move
This completes the larger inverse Head and Shoulders pattern
Downward move expected.
I Ike the test of the 50 MA and close and close above the 200MA. The 2 MA are getting closer and soon there will be a "golden cross" I anticipate some consolidation along the upward trend line and into the wedge.
Targets: $ .96, $1.03, $1.10
Contextual immersion trading strategy idea.
Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States.
The share price rose after the bad earnings.
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price in the next...
Q2 Earnings and Revenues Surpass Estimates
Quarterly Results
Earnings per share were up 100.00% year over year to ($0.00), which beat the estimate of ($0.10).
Revenue of $114,702,000 decreased by 6.10% from the same period last year, which beat the estimate of $89,200,000.
Highlights include:
Reported second quarter revenues of $114.7 million, net income of...
CVEO had a nice breakout from a long term base, but has now pulled back with the weakness in OIL.
I will watch this zone for a reversal pattern on the lower time frames. Area could provide support especially if OIL has a rebound.
Resistance at 4.96.
CVEO is a case of the trading called "from worse... to less worse."
The type of trade like TCK was was last January. It was like $2-$3 and they survived the downturn in commodities which is the most important thing. The stock went to $25 right now. I don't know about you but very few experts were talking about that stock last winter. ;-)
When it comes to CVEO I...
Civeo Corporation, which provides housing accommodations to oil-drilling companies, announced on Monday that it would not pursue a conversion into a real estate investment trust, or REIT
As a result, investors felt betrayed and pissed to the max.
The price gapped down from 25.5 and after a little support @ 14.70, my short entry at 14.69 was triggered.
The next...
