Will be monitoring price action closely here and if support seems to be holding, possibly looking for a good entry.
So why am i looking at EURN? Because fundamental analysts are giving a target of EUR 13.50. And furthermore a longer term downward trendline has been broken and is currently being retested. If the retest is successful then the next resistance is around 13-14, lining up with what the fundamentals say. Now let's zoom in. Very simple, I want to see EURN back into...
Analyst buy rating with good technical signs for long entry with tight stop . Entry 9.93 Stop 9.7 Take profit 11, adjust stop daily .
We have 2 demark buy signals and the chart is totally wedged here. I think we see a strong pop up within a week.
A few symbols combined. Ready to pop up soon?
$EURN is holding above fib 0.618. RSI is below 50 which is not a good signal to be bullish. Needs to get above both SMA50 and RSI 50 to be bullish.
Euronav NV engages in the transportation and storage of crude oil. It operates through the Tankers and FpSO (Floating Production, Storage, and Offloading Operation) segments. Euronav reports earnings May 7th Relatively strong (High Timeframe) support/resistance lines High volume since October 2019 Looks like it's ready to head to the next resistance line ...
Pretty strong parallel trend here going upwards. Good amount of resistance at that 1 Fib retracement level but i see us passing through that in a week or two at this rate. Also a lot of tanker stocks are above 80 RSI so i don't see too much of a problem there.
Updated wedge, looking forward to this breakout!
The shipping spot market "is going to stratospheric levels," Euronav (EURN -0.7%) CEO Hugo de Stoop tells Bloomberg. "We think it will go higher and higher, simply because there are more and more ships which are being taken out of the fleet for storage purposes." The CEO will be appearing on CNBC to give it another pump tomorrow PLEASE GIVE US A LIKE IF YOU...
Oil traders buy oil spot and sell it forward to take advantage of unsually large contango on the futures curve. 6 month forward on brent and wti sells at a premium exceeding 10$ a barrel. Shortage of land storage pushes oil traders to store oil on water using ships. There are only about 800 VLCS (Very Large Container Ships) and the daily rental price has...
Explained in the graph. Looking for price target, $11.51, to reach in 3 to 4 weeks.
Volume picking up at the bottom of a channel. stochastics starting to reverse back up
EURN broke to the downside after the bottom trend line failed to provide support. Fundamentals still look good with rates remaining well above last year. I'm expecting a break back above the trend line.