Only today I made a post that oil looks unclear and now I think oil stock want to go up. Just look at the divergences, double bottom and overall bullish look and feel of APA and RIG. I will allocate 5% of my portfolio to these stocks 50/50.
I am bullish on this small-cap stocks .. We believe in buying small cap stock with great potential.. This one call for a bullish position trading strategy.
I observe a consistent picture in many oil stocks that hint upcoming bounce in oil prices. Very speculative trade. Tight stop.
Pattern: no pattern. Buying on bullish PA/indicators/general market look&feel
Risk: 0,25% of total portfolio
Time horison: summer 2019
Exit strategy: selling in portions as price moves to 74.5 and bounces of MAs or oil price will return...
Could get a small move to the upside here with a small hold timeframe in mind.
If momo is to follow through here wouldnt be a bad place to put on position with the risk defined.
Above the second purple level is constructive for a retracement higher.
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Energy sector has been a horrible sector to put your money in for some time though.
From a charting perspective RIG is really at a critical level, historically it has had a lot of false dawns and ended up falling out from these bearish rising channel, technical indicators are also all turning negative coming into earnings . The analysts covering the name have a average price target of $11.97 and a overweight rating, 20 analysts have a buy rating...
Went long today.
Oil looking stable to up to me. I think the correction likely over for this one. Target above recent high. Suggested stop on chart. Process your way.
Taking a play on the drop in Crude Oil prices and potential geopolitical uncertainties with a put sale in RIG which appears to be in a long term consolidation pattern Looking to sell a 52d 10 put for .64 to .68 this week
I am an oil bull fundamentally and technically speaking. In this forum, I shall stick to technicals and I see a wave 4 completion with a double bottom at the 61.8% retracement level off high volumes. Assuming a 1:1 extension off the 3rd wave, I would expect an upside price objective of $16, +c.26%.
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company's primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units. As of February 9, 2017, its fleet consisted of 30 floaters, seven harsh environment floaters, three deepwater floaters, six midwater floaters and 10 high-specification jackups. As February 9, 2017, it also had four ultra-deepwater drillships and five high-specification jackups under construction or under contract to be constructed. Its contract drilling services operations are spread across oil and gas exploration and development areas throughout the world. The Company's drilling fleet can be characterized as floaters, including drillships and semisubmersibles, and jackups.
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RIG
