Barakah Offshore Trading Below Down TrendlineCurrently trading below downtrendline on the daily chart and below EMA200 on the weekly chart, as of time of writing remains bullish as Brent broke the $70 mark. Monitor trendline and Support levels for possible long trading opportunities. Be extra cautious as the company is PN17 (company with financial distress).
Oilandgas
Halliburton HAL Potential Rise
Crude oil prices made a dramatic comeback from the April's 2020 low which supported the oil stocks significantly.
Crude oil has been trending higher since last April’s low. The higher the price climbs, the more the global industry will require oil services.
A continuation of higher petroleum prices should support gains in HAL.
HAL has violated the downward sloping channel's upper boundary in an indication of the bulls' control.
It seems that HAL is heading to $21.75 - $22.40 respectively in a correction of the downward move witnessed through the declining channel.
SCL breakoutAnother possible breakout opportunity here, found support near the 2020 summer high and has moved back above the current range.
Nymex Futures Long CL1!Wait for the pullback down to the orange box for a long entry
The support shown has confluence with the 100EMA, .618 Fib pull
from the last swing high and the bottom of a respected channel .
Expecting a bounce in the area shown but please be aware of
the numbers due today and tommorow .
The American petroleum Institute on crude oil stock levels
as well as official numbers from the Department of energy on the 17March.
Set a Alert for this trade and watch how the market reacts to the data with a solid plan .
Show your support with a Like and a Follow .
Can't Argue Wth The Energy Trade Right NowOil and gas continue to make new highs. But don't forget to keep an eye on OPEC+. That's the only thing that has me cautious right now. With a need for more infrastructure and in consideration of the reopening trade, my guess is energy sources will be needed. Regardless, a build or increased production globally could put a dent in this bull trend. Not sure if it will be long-lasting or an interim effect. But something to keep in mind I think.
The company recently released its Q4 results and provided a fleet status report. Borr generated just over $60 million in revenue and reported a net loss of just under $47 million or around $0.22 per share. The company also explained that “even though we received broad support for the liquidity improvement plan, concluded in January, we are convinced that some opportunities remain to further improve our capital structure and liquidity in 2021.”
While the majority of oil and gas stocks still have yet to reclaim their pre-pandemic levels, a stronger focus on them right now could be supporting reasons why stocks like BORR have continued rebounding.
Quote Source: 5 Penny Stocks For Your March 2021 Reopening Watch List
Bullish Resistance Break or Bearish Breakdown Coming QEP?Shares of QEP also surged on Thursday, which continued a multi-month rally that began in late-October. In fact, since October 3th, QEP stock has climbed nearly 350% so far. It also reached a fresh, 52-week high of $4.13. The strength in the underlying oil and gas industry has helped propel momentum in the stock for months.
Biggest question might be what happens next. You've got OPEC+ seemingly at bay (for now) and even with markets selling off, QEP and other energy stocks are surging.
Something else to consider with QEP is the company’s pending merger deal with Diamondback Energy Inc. The plan is for QEP to get acquired in an all-stock transaction. The expectation on the timing of this deal is late in the first quarter of this year. Considering we’re in the final days of the final month of the quarter, that could also become a source of speculation if it hasn’t already.
Quote Source: Are Penny Stocks Worth It? These 4 Surged As Markets Sold Off
Key Level WTI - Make Or Break In Market Sell Off?Shares of WTI stock shot up huge on Thursday. This move came just a day after the company reported its latest earnings results. The oil and gas company beat on both EPS and sales. Most notably, W&T reported a loss per share of 5 cents. Though this was the case, the same year-ago period saw a loss per share of 31 cents. Sales came in at $94.75 million compared to $81.3 million.
As far as its production guidance, W&T expects 38,000 to 42,000 barrels of oil equivalent per day in 2021. The company also expects Q1 production of 1.22 million to 1.35 million barrels and 10.7 to 11.8 billion cubic feet of natural gas.
Quote Source: pennystocks.com
CDEV Just Keeps Surging Even In A Sell-Off"In its Q4 report posted a week or so ago, the company managed to increase its liquidity to $340 million from $297 million in the previous year. Given that CDEV stock is heavily tied to the energy industry, it is also undoubtedly correlated to the pandemic. Because the pandemic has resulted in a massive dive in energy consumption, Centennial has had to work hard to stay on top. But with vaccine distribution reaching new highs every day, the hopes are that travel could resume soon. If this occurs, demand for oil and gas could rise, leading to more interest in companies like CDEV."
Quote Source: pennystocks.com
BP - Range BoundBP bounce off key support created a opportunity to buy on the pinbar candle off support. I waited for the pin off and retest of support for my entry, this is the most conservative entry on a pinbar setup. You can enter at close of pinbar to aggressively enter the market. I waited for confirmation of TRND Bot buy signal! Clean charts = Clean profits! Long calls to $25.
If you like this idea follow for more and hit that like button! Good luck! Trade smart! Cheers!
BUY USA COMPRESSION PARTNERS | [$USAC] | 11.15.2020
Triangle correction (A-B-C-D-E)
Possible Wave 4 correction
Target: 16.50
All my ideas are for education purposes. There is a high-degree of risks involving leverage trading. Trade at your own risk. This is not financial advice.
Will AXAS Break Resistance After Vaccine Delivery?It Will be interesting to see how AXAS performs this coming week now that Pfizer's vaccine is set to ship. Energy stocks will likely be a focus and might be worth watching at the very least.
"Investors should be watching these companies due to their relationship with the covid vaccine. If a vaccine comes out in a timely manner, it could mean more people out and about. This would mean that energy consumption could go up, leading to greater demand for resources. The company states that it operates as an energy company working on the exploration and development of oil and gas. It does this in the Permian Basin as well as the Rocky Mountains and South Texas. All of these areas are known to have high concentrations of oil and natural gas."
QUOTE SOURCE: Penny Stocks To Buy Under $3 Right Now, Are They Worth The Risk?
zptaflooking for something like this by EOY guys. I think we r in for a dip back to .17c B4 another leg higher tho.
THINK LIKE A BIG TRADER NOT PUBLIC PARTICIPANTAs expected, price already closed the gap and breakthrough ascending triangle pattern after a very long choppy market. We can see strong bullish momentum right now as the buyer starting to participate in the market. What we need to do is to wait the price retrace back to the previous breakout pattern as a confirmation to buy entry. I forecasted the price will continue with bullish momentum until it reach 2.618 Fibo level which the next significant support & resistance level. Just be patient and watch closely the price action to buy zone entry.
CARIMIN 1/8/2020Similar to most upstream oil players, it is showing a triangle formation. While it is clear the low highers have been forming over the past few weeks, it is not so clear about the lower lows.
Weak economic sentiment and poor investor confidence in O&G since the crash ( in late april) will be a driving factor to determine the price for these counters.
If the current price can hold, it will be good. If it doesnt, it may signal a downtrend. Will need to monitor a few more candles to gauge market sentiment towards upstream O&G players.
BTE crossing under 50 SMA, MACD and RSI pessimisticHello Traders!
The price of BTE looks like it's about to cross under the 50 SMA (sell signal). Combined with a pessimistic looking MACD and RSI, and a bearish MACD-divergence, we have reason to believe that the price is going to drop to the 0.35 support/resistance. In case the price crosses under the 100 SMA as well, it might even drop to 0.1993, but the SMAs didn't act as significant supports or resistances in the recent past, so the momentum gain from crossing the 100 SMA will probably be small.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
QUICK REVIEWMarket still ranging and consolidate. However, if the price break the support level, might be it will drop to previous lowest low @ RM 0.06. We can see this counter is not so favorable at the moment as the volatility very low for the past few weeks. I'm watching closely to entry buy if the price break the next resistance level. For now, we just need to be patient and monitor the price action. Happy trading!
QEP potential bull marketYou can see that the MACD gives a buy signal on 2 July, and CMF shows us, there are more buyers than sellers.
I think we're standing at the beginning of the bullish market.
On 4 July QEP got $500 million financial help for Wells Fargo Bank, so the liquidity of QEP is stable now.
Occidental Petroleum Corporation $OXYgetting above $19.19 is a good sign for the stock. It is a support now and the target price will be $26.27 to fill the gap.
12 months Consensus Price Target: $23.43
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