BORR Oil Field Support Services LONG
BORR's story is kind of like that of the 1849 California gold rush where those selling
picks, shovels and pans made consistent and good money and sometimes more than the prospectors.
Since they service the oil fields of several oil companies, they just grind out their margins
of couse still suspectible to any boom or bust cycles of the oil /energy sector in general.
On the chart, price can be found sitting on the demand / supply zone having already tested
its lower boundary.
Pirce is under the fast-moving average which is under the slow-moving average showing
the pivot is underway. The volume indicator shows active trading underway and spikes well
over the 50 day moving average.
Overall, I see BORR as in inexpensive stock to get several to many shares adaptable to
scaling the close of position as the price retraces back towards the supply /resistance zone.
I plan on the first target as the 50% retracement back to the overhead zone and the second
target 75% upward while saving the remainder to test the resistance expecting the
energy sector may shift into bullish bias in the meanwhile.
picks, shovels and pans made consistent and good money and sometimes more than the prospectors.
Since they service the oil fields of several oil companies, they just grind out their margins
of couse still suspectible to any boom or bust cycles of the oil /energy sector in general.
On the chart, price can be found sitting on the demand / supply zone having already tested
its lower boundary.
Pirce is under the fast-moving average which is under the slow-moving average showing
the pivot is underway. The volume indicator shows active trading underway and spikes well
over the 50 day moving average.
Overall, I see BORR as in inexpensive stock to get several to many shares adaptable to
scaling the close of position as the price retraces back towards the supply /resistance zone.
I plan on the first target as the 50% retracement back to the overhead zone and the second
target 75% upward while saving the remainder to test the resistance expecting the
energy sector may shift into bullish bias in the meanwhile.
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