still remember during oil good times usd80, many kena trap when rally to 1.30, never see 1.30 again until now, but i wont target 1.30, just swing trade here
im so happy to tell you what i said a few week a go now become reality that oil price BRENT as per expected will touch 70 - 80 USD. It is very simple, many OPEC country especially those from middle east need oil price to go beyond 80 USD because they need to cover back ballooning debt and to pay their expensive budget and stimulus package due to COVID 19. Many or of this country depend almost 60 %- 90 % on oil revenue. They have been draining their own coffer last year and in order to survive they need Oil above 80 USD and beyond.
1. Strong, well managed company with cheap valuation.
based on what we know now, quarterly EPS of 10c is achievable in foreseeable future.
2. Oil on strong uptrend in the next few years due to lack of exploration during Pandemic. (don't be surprised if it goes beyond all time high of USD147.5 per barrel).
3. Biden said he is going to kill Shale. Then he changed to "no new shale". In the past few years, every time oil hovering around USD60, shale will overproduce which suppresses oil prices. And this time shale overproduce didn't happen for quite some time now.
Current condition with vaccine and brent oil price maintain a period low price is time to bring it up and base on brent oil trend still maintain uptrend.....is good signal...
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Popeye113
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Posted by Popeye113 > 2021-03-06 13:37 | Report Abuse
Hi, next Monday the price will drop 0.005 cent due to dividend, right?