ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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ajtj99

To: Jacob Snyder who wrote (39319)	10/12/2021 1:19:27 PM
From: Jacob Snyder	1 Recommendation Read Replies (3) of 97561

RIG: st support $3.7, longer-term support around $3.1. With oil at $80, and maybe going to $110, sooner or later E&Ps will overcome ESG scruples and increase offshore capex. When that happens, RIG will not be a single-digit stock. So, if I buy at $3.7, there is maybe 25% potential downside, and 300% or more potential upside. Good risk/reward ratio. Basically, I am a lot more bullish on RIG because oil broke decisively above $75. schrts.co

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