Hansbeurs schreef op 13 mei 2020 16:35:
Schaeffer's Investment ResearchMay 11, 2020, 7:09 PM GMT+2
The roller coaster oil prices have been on lately has taken Belgium-based crude name Euronav NV (NYSE:EURN) on a volatile ride in recent weeks. The shares enjoyed a volatile climb higher in April, before coming to a head just south of the $12.50 region. It's been a steep slide since, though the pullback has put EURN right in-line with a bullish trendline that, according to data from Schaeffer's Senior Quantitative Analyst Rocky White, has acted as a springboard for the stock in the past.
White's study shows EURN coming within one standard deviation of its 320-day moving average two other times in the past three years. One month after both of these signals, the equity was higher both times, averaging a 7.17% pop. At its current perch of $9.97, a similar move would put Euronav stock at $10.70 -- home to its early May, pre-bear gap lows.