CRK trade ideas
New momentum for CRK. Potential 48% gain in 43 days.NYSE:CRK is showing signs of a new momentum upwards. On the weekly, we see higher and higher lows of RSI since May 2019. On the daily, we see a green 2 above a green 1 on the TI Sequential indicator.
Six major reversals since June 2015. Judging from the timing of previous swings, I suspect this swing will take 43 days and reach a high of $7. That's 48% gain.
However, there is a major resistance line just above (descending black trend line in the chart). This line has contributed to six major reversals since June 2015. So it has quite some history. There is a high probability that this line stops the new bullish momentum. So we move our stop loss higher just in case it does. Stop loss will start from below the swing low. So that's at $4.17. We will be moving it up as we go along, to the bottom of every complete clean green candle that prints on the daily.
If price passes this major resistance, we look forward to the next target at $7 and the one after that at $8.60. But all in good time :)
CRK : does the increasing volume tell us something ? I really don't know.
I found the chart interesting to focus on. There is not a clear buy or sell signal I guess, but there are some patterns forming.
I will be watching for 2-3 weeks, in parallel to NG prices.
( my personal view, not a trading advise. )
Comstock upward trend to continueComstock has show strong share push since March and seems set to continue at least in the short term despite the low price of oil, watch for a little more retracement, if upward momentum is confirmed early next week then it should go another 10% before any significant dip. One of the few oil stocks which did not post disastrous results because of Covid.
From Investopedia
Comstock Resources engages in the acquisition, development, exploration, and production of oil and natural gas properties. The company posted EPS growth of 15.4% on revenue growth of 78.0% for Q1 2020, which ended March 31, 2020. Company CEO M. Jay Allison said that the company's natural gas operations in East Texas and North Louisiana have not been hurt by the COVID-19 pandemic. He said that Comstock will benefit in the future as low oil prices cause a reduction in activity in oil basins, leading to significant declines in natural gas supply in 2020 and 2021.
Not a professional please do your own DD, just an idea, don't blame me if you lose your shirt but if you make a 100k on this let me know so I can glory in your success!
CRK 4d: Strong chart 40%+ gains // SWING trade (STOCKS)Why get subbed to to me on Tradingview?
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CRK 4d: Strong chart 40%+ gains // SWING trade (STOCKS)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: CRK 4days/candle chart overview
::: strong bullish chart
::: strong base so more gains soon
::: 4.30 strong confirmed support level
::: expecting more gains mid-term
::: BUY/HOLD setup for patient traders
::: TP1 +40% gains TP2 +70% gains
::: 10 USD is final TP bulls
::: next SWING is going to be 40%+ gains
::: well defined range so buy lows now
::: STRATEGY: BUY AT MARKET / HOLD IT
::: BUY/HOLD swing trade setup / patient traders
::: 40%+ gains on BUY SIDE 4-10 weeks max
::: TP BULLS is 10 USD/share
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9/Combo update: N/A
::: Sentiment: BULLS
::: Sentiment outlook short-term: BULLS
CRK Barrier Triangle "Bullish"Hello,
What is CRK?
Comstock Resources, Inc., an independent energy company, engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. As of December 31, 2019, the company had 5.3 trillion cubic feet of natural gas equivalent and 16.7 million barrels of oil equivalent of proved reserves. It also owns an interest in 2,800 producing oil and natural gas wells. The company was founded in 1983 and is headquartered in Frisco, Texas.
News
My Thoughts For You
Yes, we have a barrier triangle that is becoming tighter towards the end, which is why I have added the extra 4 labels. I like to mention that sometimes we could see a breakout before this triangle completes the other waves. I call it a failure and here is a snapshot below to explain what that would look like. Furthermore, the target I have is a standard target range measured by using the widest end of the triangle and adding that to the top of the trendline of the triangle upon the breakout.
I believe that CRX has bottomed and in accumulation right now. If we see this breakout, I have no doubts that this Price could go through the roof, several hundred dollars is not out of the question given the fact that this company was sitting at $453.00 in June of 2008.
Good Luck, Cheers!
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$CRK Is A Bet On Cowboys' Owner Jerry JonesThe oil patch is full of boom and bust opportunities. One pick that we like is $CRK.
With $CRK, you're betting that nat gas prices have finally bottomed and that Dallas Cowboys owner Jerry Jones has found a hidden diamond in the rough.
Yesterday's headlines:
Comstock Resources (CRK +19.5%) spikes to its highest levels in six months on much heavier than usual volume after controlling shareholder Jerry Jones offered upbeat comments on CNBC about the company's acquisition of Covey Park.
"Comstock has one of the best positions of leases relative to the cheapest place... in the world to get gas to the market," Jones told CNBC this morning, adding that as a contrarian, he believes now is time to buy into natural gas.
CRK "has done a great job with Covery Park in acquiring a lot of leases" which are "in the pathway to the great markets of the Gulf ."
Bullish Oil Futures = Energy Companies #15 (CRK)This pick is for a long term investing because the triangle need for a breakout to be confirmed (Price Action Above 10.40 or more)
I shared this idea because here, there are a lot of things that Technical Analysts take in to account for selecting a stock.
*High Volume or high spike volume
*Bullish Gap the same day that the high spike volume 2018-04-23
(The gap is not visible from the weekly chart) But is signaled with a (Red Circle)
*A Price Pattern in progress (Triangle)
2018-04-23 was key here because the price tested a support in 4.60 and this was the day that the Bullish Gap with High Volume happened.
And finally the other argument that support this idea is that Oil_Futures are very Bullish
CRK WedgeThe current pattern of CRK sets up for a good long opportunity at around 4.50 in my opinion. Watch this area closely. Oversold.
CRK About to break the 10 barrier.So since November, CRK has been steadily rising with higher and higher lows. It's touching on the ten dollar mark within a day or two and a solid indicative volume increase. Im going long.
CRK- Comstock Resources Daily PlanCRK- Comstock Resources Daily Plan
A closer look with the daily chart
NYSE:CRK
CRK: Why the bottom is cominglooking for a bottom between 6.48 and 7.31 around 3/16. look to fib extension for further evidence!
CRK- 35% Profit in 3 days!!! (Position open) - Here’s another Quick Trade from Our Trading Room Executive summaries -
3rd Jun in Executive summaries we discussed about CRK & we bought CRK at 0.76. It has huge potential & can be a Long-term fundamental hold as this company is coming down from $30. Also MA lines are supporting for Momentum Long. With our surprise in next 2 days the Stock moved to 1.03, exceeding our first target & gave us a chance to lock more than 35% profit.
Trade Details -
CRK- Long
Trade Logic: Momentum Long & adjustment of long down fall
Entry price: 0.76
Target Price: 0.88, second target 1.17
Stop-Loss: 0.69
You can check our detailed analysis on CRK in the trading room link here-
Trade Suggestion Date: 6/3/2016
Trading Room - Executive summery link: www.youtube.com
Time Span: 3:50”
Trade Open: 0.76
Trade Close: Half closed at 0.88 (14% profit) rest Open
Profit/Loss: 22% (running)
CRK long for the breakoutCRK just barley broke out today, watching for a long on continuation of the breakout tomorrow. Risk is right on the breakout level so it's a nice risk to reward.
