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Strategies & Market Trends : Speculating in Takeover Targets
CTG 7.960-0.4%Oct 22 4:00 PM EDT

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To: richardred who wrote (5681)12/4/2019 1:38:51 PM
From: E_K_S  Read Replies (1) of 6087
 
Re: ECA

When in a swing trade I use the 60 min chart and watch the standard SMA (20), (50) and (200). Similar SMA's on daily and weekly but w/ the 60 min chart you can see if rally is confirmed by breaking through each SMA level.

Finally we get a move in the WTI at $58.55/barrel +2.45 and ECA +4.29% back to $4.01/share. Seeing good moves in several of the other oilers (watching APA) too.

On the 60min chart had a break thru the SMA(20) and SMA(50) today. SMA(200) is @ $4.24/share so may make a small 1st sell at/near that price target. Plan is to see if I can book some quick gains on one or more of my recent Buys in ECA and look to putting that money into another beaten down Oiler but with a larger market cap and a good dividend payer. I prefer company has 100% exposure in US shale. Therefore, have APA on my short list.

APA has a 5.4% dividend and at/near multi year low. APA lost money on latest earnings report and 2020 estimates all over the board ($1.08/share high estimate vs - $1.78/share low estimate). Avg estimate still shows a loss. Will need to see if APA is stressed by debt and where their avg production costs come in at. Div may not be safe if expenses move higher and oil prices stall here. There may be other plays but my focus is on dividend payers.

Am also looking at pipeline companies that also have oil shale/gas JV's (WMB comes to mind). A 6.85% div payer and leveraged to NG w/ a small investment in the commodity.

Want something w/ minimum downside and not too much leverage. Still looking

EKS
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