Tullow

[dmedin]

Dropped 75% in a single day.  LOL.  Overreaction and worth going long?

[dmedin]

Zut alors 🐴👍

[CharlotteIG]

Hey @dmedin, our analysts did a piece on this yesterday you might be interested in. 

https://www.ig.com/uk/news-and-trade-ideas/what-will-happen-to-the-premier-oil-share-price-after-the-electi-191210

[dmedin]

1 hour ago, CharlotteIG said:

Hey @dmedin, our analysts did a piece on this yesterday you might be interested in. 

https://www.ig.com/uk/news-and-trade-ideas/what-will-happen-to-the-premier-oil-share-price-after-the-electi-191210

 

 

I hadn't thought about the impact of the election.

I went in when I thought it had bounced off rock bottom:

[CharlotteIG]

@dmedin Which point did you get back in, first dip or second: 

[dmedin]

Didn't notice the first one.  Thankfully I didn't enter there 🙄

Need to be a bit careful...

Edited December 12, 2019 by dmedin

[Guest Andybram]

5 hours ago, dmedin said:

Didn't notice the first one.  Thankfully I didn't enter there 🙄

Need to be a bit careful...

The first drop was bad news about oil quality in the latest well in Ghana, the second big one on announcing cancellation of the dividend.  Does seem a bit of an over-reaction and I bought a small holding for a trust after the first drop.  I plan to hold on long on those as the price has recovered somewhat in the past few days although I suspect it may be quite some time before it gets back to the price I bought at

[CharlotteIG]

11 minutes ago, Andybram said:

The first drop was bad news about oil quality in the latest well in Ghana, the second big one on announcing cancellation of the dividend.  Does seem a bit of an over-reaction and I bought a small holding for a trust after the first drop.  I plan to hold on long on those as the price has recovered somewhat in the past few days although I suspect it may be quite some time before it gets back to the price I bought at

Hopefully it pulls back up for you 🐮

[dmedin]

A bounce back up to around £1 per share does not seem unreasonable and would only be a small retracement (38%) of the precipitous drop.

[dmedin]

More bad news!  Would love to see that bottom of 38p tested.  A nice firm bottom would make go long. 

[dmedin]

Announcement is one to look out for, bonnie loons.

[dmedin]

Looks like all the negative news is priced in and the only way is up from here 🤔

[dmedin]

More bad news for Tullow today.  Does this company have any basic intrinsic worth to stop it falling to zero?

[dmedin]

Did Tullow hit rock bottom?