I am thinking about paper trading a long position around this price point (2.97 area) based off a few factors.
1. Positive MFI divergence relative to recent price action
2. MACD nearing a bullish zero-line crossover
3. Of the opinion oil will be bouncing soon, SDRL should follow accordingly
A few resistance points up ahead that will need to be broken through, and a key level of support around $2.90 if it moves downwards. Also in overall downwards trend, so not currently considering an extensive long position here.
Again I am only paper trading this, and this is my first idea here. Working hard in my trading studies & aiming for big improvements over time.
1. Positive MFI divergence relative to recent price action
2. MACD nearing a bullish zero-line crossover
3. Of the opinion oil will be bouncing soon, SDRL should follow accordingly
A few resistance points up ahead that will need to be broken through, and a key level of support around $2.90 if it moves downwards. Also in overall downwards trend, so not currently considering an extensive long position here.
Again I am only paper trading this, and this is my first idea here. Working hard in my trading studies & aiming for big improvements over time.
Nota
SDRL broke next support level @ $2.90 yesterday morning. Didn't notice abnormally large selling volume during first analysis, and going long would have been totally against this stock's current trend. Glad I had to work early and didn't have time to take a morning trade on this yesterday. With still being new I'm going to try and avoid making trades that are against a stock's overall trend.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.