W&T Offshore, Inc.
Long
Updated

Nat Gas poised for a bounce / Oil to $40/barrel

153
Close as of Friday $2.73 a share
My entry is at $2.67 a share
I'm setting my S/L @ 2.56 a share (risking about 5%).. looking for about 20% upside in next 30 days. Could see some more consolidation early in the week but its poised to break up or down..

Areas of support $2.58-$2.61

PT #1 - $2.95 - $2.98
PT #2 - $3.16 - $3.19 - Highest probability short term target
PT #3 - $3.34
Other area of support / resistance are $2.85
If Nat gas and oil continue to be bullish on good volume i'll investigate more into lower PT's.
PT #3 - $3.59 - $3.62
PT #4 - $3.89 - $3.99

Like and follow me if you see value in my analysis! :)
Note
Great entry now.
Note
Don't see it sitting here at 2.71 - 2.73 much longer, breaking up or down.
Note
Consolidation continues
Note
Interesting to see where this one goes. Will S/L at $2.56
Note
Seems to always find its way back to 2.70... further consolidating. Going to coil like a spring
Note
Debating selling at break even now, think market might pull back 1-2 % tomorrow to consolidate.
Note
Trade is still active, rinsed for lower CB.
Trade active
Targets 1 & 2 reached
Trade closed: target reached
Targets were reached :D

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.