Looking back, high probability positions buying RIG using macd and fib (50%). Following OSX sector, XLE. XLE/SPY.
building positions with macd and fibonacci (50% break out). w/ all the fundamental reasons:) rising inflation theme. Bullish TNX momentum etc. u could buy big oil, oil drillers or NRGU. Beginning at feb or march; XOM was +15%. high probability.
OSX $OSX Initial Long. This is a pure momentum signal just as are every other signal I post. ZERO other factors are considered in producing this signal. Entry reasons: OSX is showing momentum and confluence of mean reversion crossing up the 70 day price mean. Exits and SL: TP and SL on chart. Move SL on TP. After TP2, trail with 0.5xATR step and 1.5xATR offset.
OSX $OSX Initial Long. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
In a reflationary context, oil has just broken a 2,5-year long resistance. This might lead it toward new multi-year highs.
A new oil prices bull market should favor small & micro cap equities of the oil & gas sector, which reached depressed levels after a 10-year downward trend, giving them the risk-return profile of call options. We consider that the risk-reward offered by Tidewater, despite its very volatile price, is more than attractive given its low valuation and its growth...