Long
SFY Insiders and Great Buying Opportunity
On top of recent insiders buying, SFY (Swift Energy Company) broke out of a weekly trend line and found support of the backside of that weekly trend line. This was also diagonal support extended from 03/18 and 03/31. What's more, this area is also a 61.8% and 71.8% fib support area. Finally, there are two important candlesticks that have triggered a reversal signal; namely, a hammer candle and an engulfing bullish candle pattern.
This alone paints a bright technical picture for the sophisticated investor and astute speculator, and gives confidence in SFY as a great investment for the coming months.
Speculation and Catalysts:
I speculate that oil prices will rise to $80 by the end of this year. If so, then so will the revenue of SFY. Going forward, the company guidance for SFY looks bright according to its recent earnings conference call.
3-month Short-term Target: $4.60
6-8 month Long-Term Target: $10
This alone paints a bright technical picture for the sophisticated investor and astute speculator, and gives confidence in SFY as a great investment for the coming months.
Speculation and Catalysts:
I speculate that oil prices will rise to $80 by the end of this year. If so, then so will the revenue of SFY. Going forward, the company guidance for SFY looks bright according to its recent earnings conference call.
3-month Short-term Target: $4.60
6-8 month Long-Term Target: $10
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