Liberty LBRT showing enough strength thru COVID Correction "SZN"
Updated
Liberty has been rising while OIL has found a massive resistance over 40/bar.
In the period oil has traded sideways,
LBRT Has rose: This is an overall very good sign.
Ultimately, the oil must return to 60+ per barrel but it is nowhere close, and the entire oil trading industry lingers in this cesspool created by a pandemic, a scare of impending crisis - and many buy-points on oil and oil-related stocks that have just sprung up in circular and cyclic fashion as always.
Pitting these charts together does tell a story.
See also, related idea Re: OIL vs LBRT's potentially GOOD earnings report!
-BDR
In the period oil has traded sideways,
LBRT Has rose: This is an overall very good sign.Ultimately, the oil must return to 60+ per barrel but it is nowhere close, and the entire oil trading industry lingers in this cesspool created by a pandemic, a scare of impending crisis - and many buy-points on oil and oil-related stocks that have just sprung up in circular and cyclic fashion as always.
Pitting these charts together does tell a story.
See also, related idea Re: OIL vs LBRT's potentially GOOD earnings report!
-BDR
Comment
Note: 10.44 was targetted; FIB shows realizations at 9.05 and 10.79.Averaging these three exits gives roughly a 10.1 mark. Of course, these would all be approximations given the nature of chart behaviors.
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