Overbought territory? Or going higher..?
$SPDR S&P Oil & Gas Exploration & Production ETF(XOP.US$
Earlier posts seem to suggest Morgan Stanley energy call hit the nail, anyone got the Target Price (TP) to share? It seems over-brought currently… RSI is way above 70 level… open short-interest near 100% if I got the information correct…
Forget to add that I am in short position… (vested)
Any views/comments are welcome…
#oil #oilexplorer #xop
Earlier posts seem to suggest Morgan Stanley energy call hit the nail, anyone got the Target Price (TP) to share? It seems over-brought currently… RSI is way above 70 level… open short-interest near 100% if I got the information correct…
Forget to add that I am in short position… (vested)
Any views/comments are welcome…
#oil #oilexplorer #xop
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JPYY8888OP : Indeed turning down... looking for a decent support line..
JPYY8888OP : Support line:
(S1) ~$99.80
(S2) ~$96.80
(S3) ~$94.80
Let’s see..
JPYY8888OP : Decent downside target: -5% ($95 to 96 range)
Slightly aggressive downside target: -10% ($91 to 92 range)
Aggressive downside target: -15% ($87 to 88 range)
Let’s see…
JPYY8888OP : Day 2 coverage since writing.. today Price inching down towards the above mentioned target support.. see how long It will takes to hit target support price
JPYY8888OP : Day 3, This counter $SPDR S&P Oil & Gas Exploration & Production ETF (XOP.US)$ has rebounded slightly.. still holding the bearish outlook At this point.. We shall SeE
JPYY8888OP : Day 4. $SPDR S&P Oil & Gas Exploration & Production ETF (XOP.US)$ resume rally and remain in overbought territory.. still waitinG for it’s price reversal to the decent price support level as above.
JPYY8888OP : Day 5. $SPDR S&P Oil & Gas Exploration & Production ETF (XOP.US)$ continue to rally higher.. clearly entering into the Overbought territory >70 / >80 depends on your chart periods. Increased Short interest accumulating. I’m still holding the bearish bias view for this counter despite of the energy squeeze and winter cyclical energy demand as it is way too overprice in my opinion.
JPYY8888OP : Day 6. $SPDR S&P Oil & Gas Exploration & Production ETF (XOP.US)$ showing some signs of weakness. Still expecting correction to reach its support line downwards to US$ 90+ range before further assessment. Let’s see…
JPYY8888OP : Day 7. $SPDR S&P Oil & Gas Exploration & Production ETF (XOP.US)$ Price has fallen down, but recovered back slightly on Mid day trading. Still having the downside bias on this counter until it has reached or support line.
JPYY8888OP : Day 8. $SPDR S&P Oil & Gas Exploration & Production ETF (XOP.US)$ continue to climb higher, breaching the overbought territory (RSI above 70).. I am still bias towards downside.
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