SD trade ideas
Still early on #OIL stocks...We might get a short term bounce in this stock (max up to $24), but I think we're destined to fall to $16.16, which is the fib for the retrace, as well as the previous trend fib extension. This correlates with the next targets down for the SPY ($350), and #WTI #OIL ($105).
I'm still short oil from $118.
Good luck out there and be nimble!
If you gaze long into the abyss, the abyss will gaze into you “He who fights with monsters should be careful lest he thereby become a monster. And if thou gaze long into an abyss, the abyss will also gaze into thee.”
The chart here reminded me of this beautiful quote. Here we are at the peak of the mountain, on top of the moon. Retail is utterly euphoric. "Congratulation" by Post Malone is going hard in the background as the Shoe Shiner boy screeches that he has quit his job and is buying 100 lambos and a bugatti. It reminds me of the day that Elon Musk went on SNL, and I told everyone: "Pack it up. The Greatest Fool has bought. There are no Fools left to Fool."
I will take a short when the cracks start to show in the wall. Don't stop a train, yes. But also, every train stops somewhere. All things end. Nothing gold can stay.
$SD recovering from pullback and forming a cup and handle!* Great earnings in the recent quarters
* Strong up trend in recent history
* Breaking out of a 6 month base
* Sector: Energy - Oil & Gas E&P
* Relative Strength vs. Sector: 1.07
* Relative Strength vs. SP500: 11.5
* U/D Ratio: 1.33
* Base Depth: 51.12%
* Distance from breakout buy point: 1.49%
* Volume 28.83% above its 15 day average
Trade Idea:
* You can enter now as the price is still close to the broken resistance.
* The target of 2.5 to 1 is close enough to reach
* If you're looking for a better entry you can look for one around the $14.22 area and manage risk accordingly.
No one will tell you this...1. Price levels are working great
2. Globally downtrend, locally uptrend
3. the level confirmed by a touch
4. near test, but weak close on Friday
5. approached with regular bars
6. no accumulation in front of the level (but there is in the range, so it has a potential for a good move)
7. there was a rollback 2 days ago
8. closed below the level
9. level of a rollback
10. enough space for a move 1 to 5.1
11. there is model ascending lows
12. no news for the last 10 days
13. the price came from above and can't go higher
14. BEWARE scheduled report on February 23
$SD Ready to Break-Out?This is one of my top ideas for the day. SD is in the Oil / Energy Sector which is being supported lately. If it can get up and over the resistance line I've drawn with some volume, I'll be looking to go long with a 15% to 18% price target by getting back to recent highs. I've made notes on the chart for my reasoning. Ideas, not investing / trading advice.
Clear upper resistance first Risky Longbeneficiery of the lighter end of the NGL barrel
2 times cash flow
Billion dollar infrastructure asset ( possible to drill on lots of land if price stays around these levels)
Margin is good at these prices
keep eye on service costs
needs $4 gas
SandRidge plans to cut total output further to between 4.8 million boe and 6.2 million boe
Just the right POSITION $SD$SD a company engaged in hydrocarbon exploration in the US hold true to it's name, a strong and successful market to be on interest of. While the slide is underneath, being on bearish trend during this pandemic doesn't seems a big deal. Market is still working on it's principal focus on generating & developing high potential oil and gas assets in the U.S. given the coronavirus pandemic and the associated market volatility and uncertain oil and gas market outlook, $SD had done initiatives and strategic alternatives for the company and market's benefit.
$SD can rise in the next daysContextual immersion trading strategy idea.
SandRidge Energy, Inc. engages in the exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Mid-Continent and North Park Basin of the United States.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $2,18;
stop-loss — $1,82.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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