Unfortunately the previously posted trend line broke. I'm expecting a bounce around 11.6-11.8 and perhaps another attempt at a breakout by the time the release Q4
European shipper breaking out from a 3 year range/box/base trading on more than 2X Vol Avg
Plenty of room still on both RSI and MACD
Ideally we get a pull back and retest of the breakout area 9.50-10.00 and then resume upwards
Calculated target of the move is 12.35
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...
EURN looks to be settling into a rounded bottom. We will need to watch this one closely. If you are one of those that think crude oil prices are going to go higher this might be a good stock for you to think about.
Price has been recovering above the EMA15, forming a five-day sideways consolidation.
Price may rally towards the US$9.65-US$10.00 levels.
Support will be pegged around US$7.88
