Euronav - 30d expiry - We look to Sell a break of 17.96 (stop at 18.72)
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
17.99 has...
Euronav - Intraday - We look to Sell a break of 15.73 (stop at 16.81)
We are trading at overbought extremes.
A higher correction is expected.
A break of the recent low at 15.75 should result in a further move lower.
Bespoke support is located at 16.00.
Short term momentum is bearish.
Although we remain bullish overall, a correction is possible with plenty...
Euronav - Short Term - We look to Sell at 9.51 (stop at 9.91)
Previous resistance located at 9.50. We are approaching the medium term resistance and look to set shorts on an approach to this level. A lower correction is expected. Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 8.29 and 7.20...
I found this stock while looking for those with a Piotroski F-Score greater than 7. The F-Score (which uses a scale of 1-9) is a good at-a-glance indicator for how good a company is doing financially, and EURN had a score of 9! In spite of that, I don't share the same sentiment that this is a good buy, and TradingView seems to agree as it shows a "Sell" signal for...
