I am anticipating a trend reversal, and a begining of a new uptrend, as you can see from a weekyly chart, Cap and Handle was formed price broke out to above "handle" trend line.
Contextual immersion trading strategy idea.
Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price in the next days.
So I opened a short position from $6,77;
stop-loss —...
Hey traders, sale on FRONTLINE is going to try to go up, but without force it risks to fall down strongly. take your profit!
Please LIKE & FOLLOW, thank you!
Many people thought that the tankers business would suffer, but it's the opposite that happened, because tankers not only deliver oil relatively to a global oil demand (that suffered for sure), but they also STORE. And this is not free.
Companies like Frontline were payed to store the global surplus:
www.seatrade-maritime.com
www.cnbc.com
On the other side, we...
This thing was beaten down for the options market and is a can about to explode. PE is less than 10 and after earning could be near 5-7 a this current price. The manipulation is extreme and should break out in the near future. A giant buy in my opinion.
Not financial advice: FRO is in a broadening opening wedge with a possible bottom at the drawn trend line. We see that in the previous lows there is 2 bottom touches or double bottoms in the RSI and price, as it is occurring now. It appears that if this holds, there is a possible reversal. GLTA
FRO seems to be oversold right now after moving down almost 40% from $12 on April 27.
I liked the way it held the big psych level at 7.50 and is currently breaking out of the downtrend.
Stop loss will be below 7.50.
First target is to fill the gap towards the 9.10
Second target to fill the next gap around the golden pocket around 10.30-45
Also crossed on...
Frontline Ltd. is an international shipping company, which engages in the ownership and operation of oil and product tankers. It also offers the seaborne transportation of crude oil and oil products. The company was founded in 1985 and is headquartered in Hamilton, Bermuda.
NYSE
