Companies that are operating offshore have had an impact. OPEC is convening today-so watch out for news. My short term bias is that we will have a short pump up in price and a possible retrace. If resistance is broken, wait for resistance to become support and go long.
Clearly the book value is at $126 per share. THe stock prices is at 3.50. Its a buy blindly.
PACD has been beat down here on lower oil prices. Its at 88.6% pullback when it hits $0.37. That could be a good entry. The RSI and %R are really oversold and last time we were here prices rebounded. I'd like to see the TSI start upward. This could be a 2x or 3x gain. BTW, PACD is financially sound with a positive net income.
Okay, this is a risky trade because the company REXX is not real profitable. Negative net income. BUT if oil turns here, like I suspect it will, then REXX could be a double. I like the harmonic pattern with a 88.6% retrace. I could see a 50% bounce to the $1.47 level. RSI and %R is very oversold. Last time at these levels it went higher. TSI needs to turn higher.
HK is in the energy sector. I am not real bullish on the sector, but some stocks have sold down. Mostly the drillers. HK appears to be in the middle of a bull flag. A bull flag should move higher to test the upper channel again ($1.17), as indicated bu the GOLD bars on the chart. The best outcome would have oil move stronger higher allowing the AB part to be...
I might be a little early here, but I like RIG and I'm BUYING. After a 78.6% retracement off the highs it looks promising. The RSI and %R are oversold and have acted as a good buy spot in the past. The company has positive net income so fundamentally pretty solid. Earnings are a way off so no near term shocks. The 15 min chart shows a double bottom, which usually...