TAKE PARTIAL PROFITS ON OASIS PETROLEUM $OAS $OIL #OIL
This post was just published on ZYX Buy Change Alert.
OAS is long from an average price of $4.61. It is trading at $5.32 as of this writing. 40% of the full core position size is being held.
Normally we would have continued to hold OAS but since it is an oil stock and oil is falling, it is prudent to take partial profits. Consider taking profits on a 15% tranche in the zone of $5.19 to $5.83. Consider continuing to hold the remaining 25%. If oil approaches $40, target zone is $8 to $10.
Please understand that our medium-term view on oil is bearish.… Please click here or the title below to read more.
February 1, 2016