Warren Buffett has been steadily buying this stock over the last few months and now owns 26.8%
With regulatory approval now allowing him to own up to 50% will be interesting to see where this stock ends up.
Indicators look good. Price at a support area, RSI showing good value, and MACD looks like momentum might be coming back into the stock after its recent pullback.
One way to buy this kind of stock could be with a stop or a stop limit order so if it does wiggle up on open then you enter the trade. If it does break through resistance and head downwards then your order wont trigger and you wont be in the trade.
Could be worth keeping an eye on and adding it to your watchlist to do more research.
World is transforming to the new energy concept. Warren is a smart guy and taking this action early. Thanks for this idea it's in my radar now. Following with others (CNQ, CSIQ, GEO and OXY).
MonoCoinSignal
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Thanks for sharing
AwesomeAvani
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Cannot tell what the MACD is but the lines are above the histogram suggesting downside momentum; MACD lags real-time. The catalyst news is new and the MACD not reflecting it. The real trigger will be a volume surge at the beginning of the week; Trading volume may not give the direction. I like a buy stop order idea ( set slightly above the high of the premarket session paired with a stop-loss slightly below the low of the premarket)
zAngus
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@AwesomeAvani, in my imagination the MACD signal line is turning up slightly :D
Depends really what happens on Monday when the market open. If the market tanks it could drop, but Ive put a stop order in there 1% above its close and its showing it already up in the post market so depends on whether that holds or not. Time will tell.
All feedback is good. Thanks for commenting.
zAngus
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( just to add my order type is a STOP LIMIT which will trigger in the pre-market if it moves up 1% from Fridays close - if the futures market looks like its tanking then I might close the trade before the market opens )
AwesomeAvani
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@zAngus, I am trading on Webull. What sucks about it is no stops are honored in pre/post market nor can any stop orders be pended. I am thinking that I need to change to another broker that allows more flexible pending orders to execute your very useful idea. I am in the west and really not into live trading the pre-market from my time zone. I see OXY as a good play for the Buffett factor. Moreover, DXY is correcting its recent uptrend and the dollar may devalue a bit. Seemingly, this would drive commodity prices in an upward bias. I am supposing a spot oil bump or mini-rip would synergize the Buffett catalyst. Yes, time will tell.