Zoomed in on WLL we can see that downside risk is very limited and upside potential is epic. The 200 EMA 4 hour is at $4.34 200 EMA D1 is at $8.55 Price gaps from $28-$26 Price Gap from $26-$24 Price Gap from $14.67-$13.56 52 week high $31 Oil storage facilities will at full capacity by June if OPEC doesn't make supply cuts.
Descending Triangle top line being tested repeatedly. Break out seem more likely.
My bias is that the bankruptcy filing is already priced in along with the crash in the oil market. The price of this stock has been destroyed and as we already know smart money gets out way b4 retail. So the dump from $60-.29c is in my opinion proof that all these events are in fact priced in.
Should I buy? Say a $100 to see where this goes in a week?
Big_Mike716
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@QamberN, I got in at .38c and am holding long term I don't think anything could happen for $100 in a week homie
Qamber23
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@Big_Mike716, So you think this company is going to come back? There isn’t much news on this company, but I did see that’s they still are able to function somewhat.
Big_Mike716
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@Qamber23, $600 million in cash eliminated 2.2 billion in debt from total 3.2 billion and reduced their interest on debt dramatically. With a stabile oil market they will come back. NBL went bankrupt last year. I picked up 1k shares for $400 so the risk is I loose $400 or make 30k-80k in 3 years
Qamber23
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@Big_Mike716, How do you think it’s opening up tomorrow?
Big_Mike716
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@Qamber23, looks ready to break out this week, open today .33c usd