OAS
OAS LongOasis Petroleum was one of the hardest hit producers following the collapse of oil. As oil begins to recover and OPEC+ agree on productions cuts, we will see OAS begin to climb back.
As the RSI chart indicates, the price has oscillated in a tight range. However, the RSI has begun to diverge and move upward indicating a bullish bias. The stock as at all times lows. Oil is not going away any time soon. Safe to accumulate long positions here in my opinion.
Best of luck trading!
OAS hits the support of channel a good long opportunityPriceline of OASIS PETROLEUM INC Stocks is moving withing a down channel and after 13 May it is hitting at support.
The RSI went in oversold zone.
Stochastic has given bull cross.
Volume profile is showing weak interest of traders here.
I have defined sell targets using Fibonacci sequence as below:
Sell between: 3.40 to 4.40
Regards,
Atif Akbar (moon333)
OAS - Had A Bad 2019 But Could Bounce BIG If Earnings Are GOODOasis Petroleum Inc. is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its segments include Exploration and Production, Well Services, and Midstream Services. The exploration and production segment is engaged in the acquisition and development of oil and natural gas properties. The well services business segment (OWS) performs completion services for the Company's oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA). The midstream services business segment (OMS) performs salt water gathering and disposal services, fresh water services, natural gas gathering and processing and crude oil gathering and transportation and other midstream services for the Company's oil and natural gas wells operated by OPNA. The Company also operates a well services business and a midstream services business.
SHORT INTEREST
58.33M 07/15/19
P/E Ratio (with extraordinary items)
-9.78
Analyst Target Price: $7.06
Analyst Recommendations: OverWeight
Company Earnings Call 7 August.
I'm long $20 CallsI think the Inv H&S played out, forming the C&H, looking to add Common at either $13.85 if it holds, or $12 ish.
Waiting for confirmation of bottom Cup and Handle setting up nicely... on side line until I get confirmation!
Successful $OAS Credit Spread TradeWe opened this position about 30 days ago and played the time premium after the huge up move in oil prices. Our initial risk was $200 for a total collection of $50.
Long OilLooking for a tightening range to form similar to triangle A. I'm leaning bullish, but will play the direction of the break.
Oil Long Looking for a tightening range to form similar to triangle A. I'm leaning bullish, but will play the direction of the break.
OAS- Short at the break of 11.09 to 7.63OAS seems forming a rising wedge formation & its breakdown support recently. Moneyflow was diverging & now crossed to the negative side.
If it breakdown the wedge formation It has potential to go down all the way to 7.5 area.
We are also considering $11 January-2017 Puts, last traded for $1.15
NEXT WEEK'S COVERED CALL CANDIDATES: NE, CLF, AMD, WLL, OASHere are my candidates for covered calls next week. Right now, they're based solely on ROC metrics, the key being to get at least a 10% ROC if the shares are called away at the short call strike. Additionally, the focus is on sub 10.00 debit plays; underlyings of higher dollar value are generally more amenable to other strategies.
After looking at the charts, as well as doing some due diligence on the companies, I'll cull the herd ... .
$NE (O&G): Buy shares at 6.21; sell the Sept 30th 6.5 call; 5.85 db; $65 max profit (11% ROC).
$CLF (Mining): Buy shares at 6.09; sell the Sept 30th 6.5 call; 5.75 db; $75 max profit (13% ROC).
$AMD (Semiconductor): Buy shares at 7.62; sell the Sept 30th 8 call; 7.21 db; $79 max profit (11% ROC).
$WLL (O&G): Buy shares at 8.04; sell the Sept 30th 8.5 call; 7.36 db; $114 max profit (15.5% ROC).
$OAS (O&G): Buy shares at 10.27; sell the Sept 30th 11 call; 9.84 db; $116 max profit (11.8% ROC).
OAS OIL TradingI am in once it crosses 5 cents over the 5DMA
Entry at 13.67
Target: 14.62 : 7% Stop: 13.15 : Loss: 3.6%,
A Profit/Loss ratio of 3 : 1
regards,
Jason | Tbltraders.com
