huge rise for the oil and for the oil stocks .
now is the time to buy the sell options 39 euro for this stock
the rsi is too overvalued and fund the previous resistance
we had profit taking today and tomorow as the oil price has already started to decline would be more intense .
disclaimer
TTE has retraced to one of its Fibonacci supports and have bounced off of it pretty significantly. Not only is it holding support, but there is greater indication of a greater bullish move. The %R indicates that a oversold condition was not too long ago with the addition of selling momentum reducing greatly, given by the Squeeze indicator. My price targets are 47,...
Oils stocks are positive for this summer and TTE may reach around 42 or 44 values which are good exit stop to keep cash before the falls fall.
It's still good to keep TTE stocks above 44 in case of strong euphoria but markets are becoming expensive that's why having some cash will let enjoying a potential drawback and let validate the benefits.
In case of strongs...
Chart pattern: Bull flag
Entry: 38.48€ (this would end the secondary downtrend of the correction)
Stop: 36.36€
Target: 44.70€
Stopmanagement: ATR Stops daily chart default settings
Risk:Reward-Ratio: > 2.9:1
Description: The chart is forming a bull flag with a nice corrective pattern (which retraced under the 38 Fibonacci retracement). Target is...
You are not currently thinking of buying the stock, as it is below the trend, as it will still continue to collapse and it is possible that the share price in the coming hours will reach 38,800 and 38,500
Now the resistance 40 is broken we have a strong support and can test the next resistance of pre covid value 43.6
In my opinion, the oil stocks may enter in euphoria and FP is maybe only at the beggning of a rallye for spring.
Reasons to buy:
+Oil price going up
+Vaccinations going up
+Bull flag (green)
+Good support line (orange)
+Best dividend payer in France
+Price has not fully recovered since march (yes i see this as a plus)
Reasons not to buy:
-MACD hasn't crossed yet
-Not yet oversold on daily
-OIL isn't that popular these days
I see 2 situations happening:
green: slowly...
In a short term analysis the position is short.
So if you sold at 37 you can rebuy at 34.
But be carefull the consolidation could go further so i advise to prepare several buys
We can see a strong resistance appear at 38 and was tested several times now.
So if this resistance is broken the signal will be a strong buy.
We also have a good support at 36.
Between 36 and 38 some trades can be made.
And if 36 support is broken, we may go to 34 wich is the december's resistance
And after 34 we have a resistance at under 32.
There is maybe a...
By Sun Storm Investment Research
A Profit & Solutions Strategy
Web: sunstorminvestment.tk
Disclaimer: I am not a financial advisor, so please do your own research before trading anything
