Searching 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.
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BAS - Basic Energy Services, oil sector reversal candidate
Searching 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.
Today, BAS finally started the move I was looking for.
Where do you see the target price though? I have the feeling that around 11-11.50 the travel will be over again.
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.
