COPX - bully bounce time
COPX took another hit today and lost +4% which is a little surprising considering Max Pain this Friday is $37... maximum-pain.com/options
Expecting a turn soon. Probably starting next week after some more pain and fear...
Indicators appear to be looking for a turn on the daily, and Volume is drying up on this leg down.
Potential selling climax on July 19th.
Bollinger' Band width can go lower but not much IMO before a turn.
New high isn't likely given the drop out of the longer term regression channel.
Tradable bounce - lasting ~30 days...maybe less on deck for COPX.
Maybe another 3% to 4% down. Falling knifes and all... buy the fear.
Bounce Target = 40.xx See Chart
Not financial advice.
Expecting a turn soon. Probably starting next week after some more pain and fear...
Indicators appear to be looking for a turn on the daily, and Volume is drying up on this leg down.
Potential selling climax on July 19th.
Bollinger' Band width can go lower but not much IMO before a turn.
New high isn't likely given the drop out of the longer term regression channel.
Tradable bounce - lasting ~30 days...maybe less on deck for COPX.
Maybe another 3% to 4% down. Falling knifes and all... buy the fear.
Bounce Target = 40.xx See Chart
Not financial advice.
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