Saudi Aramco Chart ( 2222 ) Large IPO 2019
Atualizado
My chart for 
2222 a major 2019 IPO late in the year
Enjoy
I am not trading this, just observing the fallout in the kingdom and middle east in general as a 2t valuation begins to sink over time.... The channel is downward; even if we make it back to the top I would likely expect heavy selling when we get there.
Manage your own risk
GL HF
XOXO
Snoop
2222 a major 2019 IPO late in the yearEnjoy
I am not trading this, just observing the fallout in the kingdom and middle east in general as a 2t valuation begins to sink over time.... The channel is downward; even if we make it back to the top I would likely expect heavy selling when we get there.
Manage your own risk
GL HF
XOXO
Snoop
Nota
Seems to be institutional volume around IPO price; makes sense since many giant financial institutions ‘priced’ it around the 1.6t market cap value. All that research could payoff, but we will see how well the saudis are able to pump out low sulfur diesel in the coming months as those new sulfur standards for shipping vessels kick in for the new year. If there is a lack of supply for oil that meets the new standards then the price of oil could increase helping oil producers who have adjusted their tech. I don’t know about the Saudi’s refineries but perhaps after the drone attack this year they were able to replace destroyed tech with better tech if they hadn’t already.
Just some thoughts for this observation
Much love
Snoop
Nota
below IPO; our short suggestion is working already?Nota
Channel breakout up?Nota
‘Peace with iran’ could boost the ‘security’ outlook for saudisNota
Because of all the ‘analysis’ it is possible that the heavy retail trading that has encompassed Saudi aramco’s ipo could have had longs with stops just below IPO; banks / institutions sell some at the 2 trillion mkt cap; push it down below the 1.6 initial valuation to ‘stop hunt’ retail who took the ‘research’ as fact & now the institutions will push it up back to 2t? Not sure but this is been very interesting to observe!Nota
Interesting;so the overall sell idea has worked so far. Now the saudis announce they are cutting output by 1 m barrels per day
I wonder if there will be more and more correlation with poor saudi aramco performance and more output cuts.
Nota
oil prices getting beaten down... cuts the % profit on each barrel sold... and reserves are piling up without china demand!
Aviso legal
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