Could LBRT re-test Lower regions? Target Entry-Points (BEARISH!)
Liberty and the oilfield industry is taking a hit: This looks at two previous dips that could be realized soon. We will be watching to see if LBRT gains support at any junctures and figuring out some support lines later in the trading week.
This is mostly a willfully cautious projection of two dip points that would make GOLDEN entry points to $LBRT to swing a LONG after that.
It has failed the support a VERY strong trade channel previously established - that said, **many** positions are showing similar trends so it's tough to ignore the overall action in the markets.
6.44 and 5.61 are NOT inconceivable with an overall market crapping, at least not in this trader's opinion. Even at that type of nadir, the target would still be 9+ on an (eventual) recovery.
-BDR
This is mostly a willfully cautious projection of two dip points that would make GOLDEN entry points to $LBRT to swing a LONG after that.
It has failed the support a VERY strong trade channel previously established - that said, **many** positions are showing similar trends so it's tough to ignore the overall action in the markets.
6.44 and 5.61 are NOT inconceivable with an overall market crapping, at least not in this trader's opinion. Even at that type of nadir, the target would still be 9+ on an (eventual) recovery.
-BDR
Comment:
Liberty seemingly found support at the first low-point 6.44 (Today, Thursday); but now it is starting to trend down further past that. Again, as expected. The bottom out on this is still lingering days away probably.
Overall, this did exactly what we expected, though.