The stock price is close to a strong long term support and the Oil price remains bullish in the medium term. Tullow’s CEO and management stabilised the business between Q1-17 and Q3-17. Asset sales and efficiency goals helped reduce its debt balance and capital expenditure commitments to manageable levels. Tullow Oil is generating free cash flow since Q317. An...
Not much in this analysis.
Recent bullish trend in Tullow Oil has retraced to the 50% fib and made a fairly significant move away.
Could be a decent trade as this level seems to be springboarding price to the highs around the 260-290 area.
may be worth dropping down to a lower time frame to hunt entries
Tullow oil shares have had a five-day winning streak on the back of rally in oil prices. Shares are trading moderately lower today in line with the weakness in oil prices.
Oversupply concerns have raised their ugly head off late and may cap the corrective rally in oil prices if today’s US government data shows gasoline inventory buildup.
On the daily chart of...