WARNING: This is a purely AUDACIOUS trade idea💡! You’ve been warned 😉 I’ve been working on an oil trading hypothesis I’m calling the ‘Baytex Line’ using Baytex Energy as a model. Covid-19 🦠 results in artificial shutdown of economies and🛢oil stock prices go to pennies. The opening of economies brings a return of🛢oil stock prices to my 1.00 to 2.00 pre-Covid price targets. Now here’s where it gets interesting: Events in 2008 and 2011 brought 100.00+🛢oil. Afterwards, stock prices settled and traded sideways, north and south of the Baytex Line. In 2015🛢oil collapsed. Almost a gap-down! I believe a 2020 catalyst in the form of a 🇺🇸 US 🇮🇷 Iran conflict, which WE SEE DEVELOPING BEFORE OUR VERY EYES, could return prices to the Baytex Line! Baytex Line price targets: $TTI 11.00 $FET 27.50 $HPR 20.00 $GTE 7.00 $BTE 40.00 DISCLAIMER: My trade ideas💡are AUDACIOUS! They are NOT advice to buy or sell any particular stock. Do your own DD and make your own trading decisions.
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