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IMPP a volatile penny oil/energy LONG pre-earnings
Imperial Petroleum Inc.
Long
IMPP a volatile penny oil/energy LONG pre-earnings
By AwesomeAvani
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Updated
Aug 9, 2023
4
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Aug 9, 2023
IMPP is rising from its lows of July after falling from a triple top in June at 3.8 which is
the target for a long trade. Price is now above the POC line of an intermediate term volume
profile having crossed the mean VWAP line anchored at the share split (purple and thick black
lines respectively). Price bounced off the first negative standard deviation line making this
a VWAP band bounce. The MACD lines are upgoing and so diverging. I see a stop loss of
0.2 as compared with a profit target of 0.6 making this setup a r:R ratio of 1:3. I will go long
here also knowing of the rising energy sector supporting this ticker. This stock is a retail
trader favorite when energy is" hot". With earnings in the morning, for me this is a no brainer
to buy in the premarket and if rising complement with a call option. If you want my idea of
a good call option, please ask in a comment.
Aug 9, 2023
Trade active
Sideways today and cannot find the earnings report.
earningsplay
energystock
gush
IMPP
longoil
Moving Averages
MRO
OXY
pennystocks
USO
Volume
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