ATW - Atwood Oceanics, oil driller w/ technical reversal setup

[Aarroncikk]

After scanning oil sector stocks for a decent setup to play the oil rally, I like ATW for a breakout over 7. The swing trade setup has great upside potential if demand can show strength above that resistance level.

[Achmedsi]

Of course the price of oil will affect this trade. However, I'm restricting myself to a pure technical trade of ATW stock while sticking to my risk management strategies.

[ablktlnu73]

This alleviates the emotional back and forth oil news from dictating the trade.

http://onlinetradersforum.com/attachments/atw-oil-driller-2-29-jpg.84862/

[adavisvenu]

I'm risking 50 cents to make $3+ a share. Potential selling target is the $10-$14 range over the next few weeks. Updates will be posted as needed.

[Adriannep]

Nice little breakout yesterday and today. Hope some of you are along for the ride. Remember to take profits. It doesn't count until the money's in the bank.....

http://onlinetradersforum.com/attachments/atw-update-jpg.84888/