Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Oil's Spike Has Driven Whiting Petroleum: Here's The Short

Published 05/16/2018, 03:15 PM
Updated 05/14/2017, 06:45 AM

Whiting Petroleum (NYSE:WLL) is up over 150% since February 2018 due to a short squeeze based on crude oil spiking higher for most of 2018. With the bulls in full charge and the greed indicators flashing red, smart money is starting to scope out a short level.

Short Here

Based on the stock's chart, a short can be taken at $53. This is a beautiful double top that provides the technical short signal to match the overbought greed indicators. Once hit, look for Whiting to fall sharply back to $41.35.

Whiting Petroleum Corporation

Latest comments

I agree. These guys love to jump in front of oncoming trains to get steamrolled all the time. No thanks
The same setup for your genius Crude Oil short back in December. Wrong as usual.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.