BORRO trade ideas
BORR .75 buy May 20!! Load up! WOOOOOHANote the Blue lines cross by May 20, not a huge gain but it looks to have bootomed out and shows signs of a reversal into positive territory.
$BORR Borr Drilling looking for continuation Borr Drilling Ltd. engages in the provision of drilling services to the oil and gas exploration and production industry. The firm will acquire and operate drilling assets. The company was founded on August 8, 2016 and is headquartered in Hamilton, Bermuda.
Borr Drilling Bounce Continues $borr
Oversold relief rally looks set to continue
Short covering a stimulant
Indicators reversing
Volume spike
Commodity markets stabilizing
BORRBORR drilling.. Has only about 50 % debt to equity ratio as of 4Q19 and several of its rigs on contracts. Combine that with rebound in oil to take place into first part of 2021 and we have a good thing going.
Something exiting soon happening with BRILL The rig market still sour. Tecnical analysis might speak bearly more fore a bullis retrace/dragg uppwards, but taking in consideration the strong bearish market one should be verry carefull with setting ecact points for turns of dirrection. The drags down on all movements in this stock has had much greater time interval than uppwards. weeve seen short but strong uppwards movements. like one often see in strong bullish markets with reetracements down. I do not think the support at 32,5 will hold. The stock has just passed the low volume profile level wich we see every time this happens the stock getss renewed power downwards. The value distans and time distans are merely similar. So if history repeats it should get a good push down as a consequense of fassing the lowest level with low lever at volume profile.
I think the last turn on 67 level, wrepresents the historical point wich we will see a turn uppwards this time allso. This means we should be atient and look for the weekly rsi to lower a little further. Last time reaching 20. Then a push upp. I would will putt a long possition on this stock if we se continues down movement now, and we reach that 20 level. I do not belive we will se lower rsi levels now due to that the rsi levels historically just hav sunken above this level, when it has touched the botom of the big trend line, and at the same time hitting that low level volume profile level (wich we just passed and a long way to go down in that case). Furthermore the indication that wee se with the "mountain" pattern in the rsi chart, when we have now come down from a mountain topp and starting to see lower rsi levels, at the same time crossing those smaller trend lines look to me VERY similar to that last time at the 67 leve, if the rsi now is to go down to 20 levels.
Feel free to cometn what you guys think! i think we will see a prettiy good down movement now first. Lett the rsi hitt 20 before going long. Allways bee avare the possibility is much less for hitting right on a low for a long when youre in a downtrend...
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