I don't know if wave theory really even works but It helps me organize my thoughts. DHT and tanker companies are in a really good position with the oil collapse, but if the S&P collapses any further it could drag down everything with it. Projected EPS is around 50 cents for q2 2020, a %330 percent increase from q2 2019, at 19 cents, and reports come out may 13th.
This time last year $DHT traded at 4.80 a share and assuming a %330 increase of EPS, which could very well be sustained throughout the coming recession and global shutdown, the stock could be expected to itself experience a %330 increase from 4.80 and reach around $12 a share, which follows a loose trend line from previous highs, and also matches a 38.20% fib extension for wave 4 I did, which I ended up doing incorrectly :/ but maybe its a sign regardless. Let me know what you think.
Anyways, trade how you want, I will be checking this to see how correct I am and give updates as I think of things.
This time last year $DHT traded at 4.80 a share and assuming a %330 increase of EPS, which could very well be sustained throughout the coming recession and global shutdown, the stock could be expected to itself experience a %330 increase from 4.80 and reach around $12 a share, which follows a loose trend line from previous highs, and also matches a 38.20% fib extension for wave 4 I did, which I ended up doing incorrectly :/ but maybe its a sign regardless. Let me know what you think.
Anyways, trade how you want, I will be checking this to see how correct I am and give updates as I think of things.