ENI IS OUT OF DOWNTRENDLINE ,NEW SOARING ERA HAS JUST STARTED!
In accordance with my view of the resurgence of the energy sector worldwide and believing that the XLE has finally put in its long-term bottom in 2020, I believe energy stocks will provide good returns in the coming months and years Also with the world being able to come back to normal after COVID, travel, mobility and oil consumption will return to pre-pandemic...
If we break the resistance than the road is to 7 euro otherwise retracement to 6.33 or 6.20 to from a new inverse head and shoulder.
When in Rome do as the Romans Do? " A few miles outside Ancient Rome is a river thats maybe still flowing... and polluting the Mediterranean? while nobody has ever tried to filter the water and clean the rivers from rome heading lazily and dangerously pollute the Mediterranean beach and italian beach babes and other roman sunbathers... a lot of companies have...
While the YTD performance looks pretty flat, the last year has really shown a different story for E*TRADE. It seems apparent the TD <> Schwab proposed merger leaves some questions as to E*TRADE's future... however, as one of the largest volume players... it could be a great deal for someone with a strategic direction or alternative business line.
ENI has been retracing for a long time now. Stock might be very close to a turning point to the upside. Long term gain might be around 40-50%.
Good opportunity on the Italian Market to be exploited with a spread trade. Usually ENI and Oil have a positive correlation. In that case we could open a position on ENI and hedge it with another position on Oil trading on the temporary spread between the two securities. My position here is to sell ENI and buy Oil waiting for the spread to reach again the base...