TULLOW OIL Consolidating levels.
The stock price is close to a strong long term support and the Oil price remains bullish in the medium term. Tullow’s CEO and management stabilised the business between Q1-17 and Q3-17. Asset sales and efficiency goals helped reduce its debt balance and capital expenditure commitments to manageable levels. Tullow Oil is generating free cash flow since Q317. An EBIT of 669M is expected in 2018 from 151M in 2017. A reduction of 40% of the debt in 2018 down to 2.88B will also help to increase the odds towards a new long term bullish scenario.
Good luck fellow traders
Good luck fellow traders
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