BP has formed 2 cup and handles, a smaller one inside the larger one. Price target remains retracement upward, around 31. following 31 we can see 37 by EOY. On the fundamental side take a look at the 20 year crude futures chart. W We just broke out of immense resistance line at 60 dollars a barrel. Crude can expect to see $75 shortly which only helps oil stocks...
I apologize for the lack luster chart, Im new to publishing and just wanted this idea out there.
4-month long cup, bottom @ $31 , 1-month long handle @$44.50 = PT of $57 (38,2 FR) , $52 would also be a good exit (50% FR)
The usual way to define exit with CH is to find the difference between the bottom of the cup and the start of the handle. In this case its...
AMD recently hit resistance at $100 and has dropped significantly. 1/29/2021 95/100 Call spread ahead of earnings is the play here. I'm waiting for a further pullback with PT of $100.
