The trend lines that I've have drawn are showing a breakout and a triangle pattern. As for why I think this is headed bullish, the EURN is a company that stores oil and makes more when the oil futures term structure curve is in contango. So, if oil continues its downtrend(I believe it will), it will cause futures to go into deeper contango since the cost of carry(storage cost) are going up. The way to make this a ten-bagger is to buy the 15 strike calls expiring in August 2020.
If you want my full reasoning and my video explaining why I'm bearish on oil, I'll link my Youtube channel below where I make multiple daily videos on these sorts of trade ideas and go more in-depth on fundamentals, technicals, and how to express market biases with options and other derivatives.
If you want my full reasoning and my video explaining why I'm bearish on oil, I'll link my Youtube channel below where I make multiple daily videos on these sorts of trade ideas and go more in-depth on fundamentals, technicals, and how to express market biases with options and other derivatives.
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www.youtube.com/chan...RxdmwNdTXt7Mw/videos