SLB Ascending broadening wedge
Horrible performance in Q1 that is also expected to get even worse in Q2.
Dividends were cut by 75% yet the stock kept going up day after day as traders speculate the WH might come up with some sort of policy to give a face lift to some E&P operators and raise oil prices.
WTI May futures trades below 0 and JUNE futures below $20 but still SLB went up 10%????
Whatever the WH does and whatever the Fed does like buying junk bonds ETFs, service companies like SLB & HAL have WAY less JOBS to perform during this pandemic. This is probably going to send the stock to $10 soon whenever the speculation about WH action fades away.
Major operators with good balance sheets might survive but service companies won't be able to generate CASH FLOW without ACTUAL jobs.
Good luck!
Dividends were cut by 75% yet the stock kept going up day after day as traders speculate the WH might come up with some sort of policy to give a face lift to some E&P operators and raise oil prices.
WTI May futures trades below 0 and JUNE futures below $20 but still SLB went up 10%????
Whatever the WH does and whatever the Fed does like buying junk bonds ETFs, service companies like SLB & HAL have WAY less JOBS to perform during this pandemic. This is probably going to send the stock to $10 soon whenever the speculation about WH action fades away.
Major operators with good balance sheets might survive but service companies won't be able to generate CASH FLOW without ACTUAL jobs.
Good luck!
הפקודה בוטלה
Fed manipulation in the markets are unbelievable, be cautious with every trading decision. April 28, WTI is down by more than 15% yet the markets are up by 2%. real consumption is reflected in oil prices but the stocks markets are being manipulated to please someone just because money printing has no consequences for now!עסקה פעילה
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