EURONAV the oil shipping company shows a nice opportunity to reach higher price level in the short term.
The stock has fall dramatically from its peak in late 2015 to reach a low in august 2017.
If the stock can trace back through the 1st fibonacci level at 8.18 € there is a good opportunity for the stock to reach the next level at 9.54 (+16.5%) and to go even higher towards 10.43 ( 29 % return ).
Fundamentals of the company are good as well as the oil shipping industry is getting traction with the increase of the demand and due to some geopolitical tension.
A good investment opportunity to my opinion with a great upside within 2-3 months
The stock has fall dramatically from its peak in late 2015 to reach a low in august 2017.
If the stock can trace back through the 1st fibonacci level at 8.18 € there is a good opportunity for the stock to reach the next level at 9.54 (+16.5%) and to go even higher towards 10.43 ( 29 % return ).
Fundamentals of the company are good as well as the oil shipping industry is getting traction with the increase of the demand and due to some geopolitical tension.
A good investment opportunity to my opinion with a great upside within 2-3 months