1) I stated in my previous article I was very confident in a decline of Shel, while the facts are, for the moment, proving me wrong. You may want to note this!
2) Shell is a defensive and a large cap stock, hence, should everything else fall apart, it MAY benefit from a flight to safety in the equity markets, however
3) Oil prices are in a long term down-trend, while in a short-term rally (see my previous article on oil, I may have got it there, at least!).
We had a push ahead of the trend line today for Shel, and this occurred on volume above average. If I were long (thanks God I did not go short!), I would definitively sit and enjoy the ride up until when it lasts..Charty may have scre*ed it here!
The 520 level remains major support level, but, should SHEL have broken on the upside, potentially there is plenty of upside to retrace back to the top.
If it holds steadily up on Monday, will cut at loss half of my phantom down bet on SHEL.while someone else on this board will be enjoying the ride!
I am happy to see someone is having a good day on at least a stock today!
The above does not represent financial advice.
OK Charty thanks for that.
I agree, Shell will fall back, maybe even below 520 but at the min i'm more concerned how high it will go before that happens.
Shell do this buy back every few years followed by a 2/1 share split when the time/price is right.
I need to check my figures but Shell has vastly outperformed BP's share price since the gov sold BP at 330 in '87...very nice for long term holders and/or option recipients.