#CDEV #WTI OIL IS BACK ON THE TABLE#CDEV #WTI OIL IS BACK ON THE TABLE, political pressure and Russia self-suicide leadership may revive the american oil industry. The world needs oil and it needs it now! Let's see if this fallen companies can do monster profits this year
CDEV
CDEVcdev breakout potential. Low of day stop 7.9 target 9.5 to sell half and move stop.. selling halfs a next targets and trailing the rest using 20/50sma on daily
Centennial done an impulse. CDEVDivergence. Dropping momentum. 5 waves completed. Time to reverse - and we are betting on it.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets going down are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
CDEV BUY (CENTENNIAL RESOURCE DEVELOPMENT INC)Hi there. Price is forming a big reversal pattern to change its direction. Also is close to 0 value which is a very good sign.
Watch strong price action at the current levels for buy.
CDEV: Good earnings this quarter!ticker: MMFI, is the market indicator/chart that takes into account all the stocks that are above the 50MA. MMFI is currently at 70%. Once it is at 80% small caps start blowing out of the sky. At 90% line in June, small caps go 10x in a day. CDEV is probably a trash company--but the pattern looks great.
The entire stock market looks like it will breakout right now.
CDEV UPDATE - up to 2.8x - 2.9xIt looks like a cup and handle pattern here, with the chance to go up until $2.9 by the end of july or early August.
MACD show a bearish trend but not really strong it could reverse in following days, also StochRSI shows we're on the bottom of the oscillation movement, eventually it will go up, also the volume is decreasing so, soon will be a nice option to buy.
The price is already a good buy opportunity it's below EMA13 and 26
If the C&H pattern is confirmed, I think this could rise up to $2.9X tops, but, this is not an investment advice.
$CDEV PAINTING A LONG TO A 50% GAIN?
I call this "Arrows" on the way to pushing that green ball to 50% plus. Can this happen before the larger economy prepares for meltdown part two?
No advice just my own trading journal.
CDEV BUY (CENTENNIAL RESOURCE DEVELOPMENT INC)Hi there. Price is forming a big reversal pattern to change its direction. Also is close to 0 value which is a very good sign.
Watch strong price action at the current price for buy.
CDEV BullBroke resistance, Formed new support avg. Expect a new support to form at 90 cent to 80 cent.
CDEV DOUBLE BOTTOM :)
Cdev bounced from double bottom and is directing to high numbers now.
MACD and RSI + mfi look great!
Looks like it can go straight to 0.59$ or then even to 2$.
Veeery undervalued company when looking on price / booking value etc.
Carlyle Group/Riverstone BackedSeems like one of the best plays if you would like to play the oil sector right now. Carlyle and Riverstone are considered the best in the oil industry
BOUNCE OR DIE LADS DO IT
BOUNCE AT ONCE
Joking aside im buying spot positions here for medium-long term positioning on CDEV here. Invalidation with a significant (daily maybe) close under this trend
Centennial Resources: more downside ahead.One might think that having a founder of the shale revolution in Mark Papa could be a good thing, but despite the hype and once hurrah, Centennial Resources has become a prime example of all things wrong with the shale industry despite being a Delaware-basin focused producer in the heart of the glorified Permian.
Last year, Centennial had to issue even higher interest senior notes, at 8.5% due in 2026 to pay near term maturities and fund capex.
From Q1 2018 to Q1 2019, their debt increased from US$400M to US$900M, while their BOE/d of production increased to about 17,000, the oil weighted portion dropped to only 56% from 59%, while their overall revenues fell despite the massive increase in production (and debt!)
Centennial Resources is as much of a gas producer as an oil producer, as they are nearly weighted 50-50 between gas/liquids and crude oil.
Texas natural gas realized prices have been amongst the worst in the world, only legitimately challenged by Alberta's pitiful AECO hub, while NGL pricing has also collapsed. For the moment, West Texas selling differentials have normalized, but WTI prices have collapsed which leaves Centennial in a very deep, cash flow negative situation. Before, oil-focused producers in Permian were able to compensate poor natural gas prices (sometimes negative) by higher crude and/or liquids revenues, which is no longer the case as the market faces a glut in all three categories, especially high API light crude oil.
Even with better takeaway ahead, I don't see a happy ending for Centennial Resources.
CDEV offers plenty more downside potential ahead unless natural gas and crude rise significantly, and soon.
