I think another long term bullish signal would be if this stock covers that overnight gap before spiking today. On the way down it left several gaps and never retraced. If it is on the way up, it won't leave these gaps. Yesterday's close was $36.51 with a drop from $39 down to $36.xx before MACD convergence.
The company is going to stay. Yes, they have debt. That is par for the course in this industry. Drilling and the support that goes with it is incredibly expensive. CLR has the acreage to last, not just in the Bakken. It's just a matter of whether your stomach and stand the volatility.
Aside from CLR, entire countries are going to go bankrupt at this price level. If they change production to increase price, CLR benefits. If they go bankrupt, production decreases and CLR benefits. Either way, prices can't stay at this level.
I'm preparing for a strong spike up to around mid-$40s, followed shortly by a strong drop down into the low-$30s. After that, I think rocky bullish momentum back into the $50s.
Is it true that up in the Bakken price per barrel is about $17 off of WTI, putting the price based upon 12/17 close price at about $39 a barrel? If that is true can anyone shed some light on CLR's cash position, want to know if they would be able to ride it out and for how long selling product at less than it costs to pump out of the ground if access to the credit markets are shut off. Just overloaded my portfolio with CLR because the lowPPS looks very attractive, doesn't look like it can go down anymore based upon today's bounce.
Sentiment: Strong Buy
Doesn't even need to be a war. ISIS keeps moving south in Iraq, closer and closer toward the oil fields...