MY Bullish Case for DNR
Updated
DNR while a smaller cap stock, looks prime to BO riding the newfound rally in crude. I hear a lot of traders calling for a PB here in crude, but I am seeing 62.75ish in light sweet before it tests any support. Reason for this is the fact that fibs on crude show the 127 is hit and the 161 is next. Usually the 127 is like a wall where the PA bounces off, but this action has traded a little more sideways than retracing...
Of course I could be way off going against the grain, but that is what we strive for right? Lead the pack not follow. Anyone can chase others, but leading the pack not only provides skill honing but a need to be more accurate every time.
Of course I could be way off going against the grain, but that is what we strive for right? Lead the pack not follow. Anyone can chase others, but leading the pack not only provides skill honing but a need to be more accurate every time.
Trade closed: target reached
Target well beyond reached. This trade is done for me. I don't like the market metrics or OPECs increase in production. The masses have it wrong. I will look for more build in inventories in the coming months. GLTA!!!!
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