earching for a reversal in some oil & oil services stocks? BAS looks primed after a 4 month bottom channel. Ideally a breakout through 8 brings volume for a nice swing trade towards 11 short term and 15 longer term.
BAS.jpg
Disclosure: I have no position at the time of this post, however, I may take a position according to the plan suggested above.
Good news, you have 3 days to study this chart with the long weekend! Happy Easter.
BAS - Basic Energy Services, oil sector reversal candidate
Today, BAS finally started the move I was looking for.
BAS update.jpg
Disclosure: I'm long 8.36 avg.
I did suggest 11 in the first post above. It depends on your time frame and the oil recovery overall. I'm long OIL as well. I sell winners on the way up in pieces as to let some ride as long as I can.
Sell on the way up. I sold half size today as its approaching the 11 target. Congrats if you had patience, nice 25% winner.