Wonderful company, way too undervalued. With the current market conditions I think we are headed higher. In case, my judgement is wrong, I will end up owning the company at a great price which I am very comfortable with. It is a win-win.
We might get a short term bounce in this stock (max up to $24), but I think we're destined to fall to $16.16, which is the fib for the retrace, as well as the previous trend fib extension. This correlates with the next targets down for the SPY ($350), and #WTI #OIL ($105).
I'm still short oil from $118.
Good luck out there and be nimble!
“He who fights with monsters should be careful lest he thereby become a monster. And if thou gaze long into an abyss, the abyss will also gaze into thee.”
The chart here reminded me of this beautiful quote. Here we are at the peak of the mountain, on top of the moon. Retail is utterly euphoric. "Congratulation" by Post Malone is going hard in the background as...
* Great earnings in the recent quarters
* Strong up trend in recent history
* Breaking out of a 6 month base
* Sector: Energy - Oil & Gas E&P
* Relative Strength vs. Sector: 1.07
* Relative Strength vs. SP500: 11.5
* U/D Ratio: 1.33
* Base Depth: 51.12%
* Distance from breakout buy point: 1.49%
* Volume 28.83% above its 15 day average
Trade Idea:
* You can...
The Price per Earnings ratio of SandRidge Energy is extremely low, 5.62.
With the upcoming earning on February 23 i expect a rise to the $13.8 resistance.
1. Price levels are working great
2. Globally downtrend, locally uptrend
3. the level confirmed by a touch
4. near test, but weak close on Friday
5. approached with regular bars
6. no accumulation in front of the level (but there is in the range, so it has a potential for a good move)
7. there was a rollback 2 days ago
8. closed below the level
9. level of...
This is one of my top ideas for the day. SD is in the Oil / Energy Sector which is being supported lately. If it can get up and over the resistance line I've drawn with some volume, I'll be looking to go long with a 15% to 18% price target by getting back to recent highs. I've made notes on the chart for my reasoning. Ideas, not investing / trading advice.
The most recent candle took out 3 fibonacci levels and closed above a significant support/resistance level and also the descending trend line.
The MACD has crossed and continues curling up.
Targeting 14.79, 17.06 in the mid term.
beneficiery of the lighter end of the NGL barrel
2 times cash flow
Billion dollar infrastructure asset ( possible to drill on lots of land if price stays around these levels)
Margin is good at these prices
keep eye on service costs
needs $4 gas
SandRidge plans to cut total output further to between 4.8 million boe and 6.2 million boe
Price above MA 100 and MA 50. Good to go long at market. Initial target @ 2.50 and a long term target of 3.10
Trade cancelled if price closes below 1.40
$SD a company engaged in hydrocarbon exploration in the US hold true to it's name, a strong and successful market to be on interest of. While the slide is underneath, being on bearish trend during this pandemic doesn't seems a big deal. Market is still working on it's principal focus on generating & developing high potential oil and gas assets in the U.S. given...
