BOIL has had a busy month with the resurgence of natural gas prices and the reverse
split six trading days ago. I analyze it as having further upside. On the 30-minute chart
I have added two anchored VWAPs to the left on separate pivot points. This serves
to make out dynamic support and resistance. Price has crossed over the mean VWAP zone
which is between the heavy black lines. In confluence with that, it has crossed over the
POC line of the volume profile represents the price point with the highest total trading volume
over the visible time interval. Above price are the two targets being one and two standard
deviations above the mean aVWAP. The volume indicator shows increasing relative volume
overall as a sign of accumulation which generally results in price appreciation from
the demand trend. I will set the stop loss at $.10 below the POC line and take a long
position. One third of the position will come off upon each target advancing the stop loss to
above the entry and making the trade risk-free. Another third with TP2 and finally the
The remaining third will run on a trailing stop so I do not spend time micromanaging a smaller
position. I believe that my overall bullish bias will be rewarded yet again over the near term.
split six trading days ago. I analyze it as having further upside. On the 30-minute chart
I have added two anchored VWAPs to the left on separate pivot points. This serves
to make out dynamic support and resistance. Price has crossed over the mean VWAP zone
which is between the heavy black lines. In confluence with that, it has crossed over the
POC line of the volume profile represents the price point with the highest total trading volume
over the visible time interval. Above price are the two targets being one and two standard
deviations above the mean aVWAP. The volume indicator shows increasing relative volume
overall as a sign of accumulation which generally results in price appreciation from
the demand trend. I will set the stop loss at $.10 below the POC line and take a long
position. One third of the position will come off upon each target advancing the stop loss to
above the entry and making the trade risk-free. Another third with TP2 and finally the
The remaining third will run on a trailing stop so I do not spend time micromanaging a smaller
position. I believe that my overall bullish bias will be rewarded yet again over the near term.
Trade active:
Another volatile drop and opportunity to buy a dip. Slow and patient like the turtle and the hare.