STX Charts, page-1373

STX hope we all made good coin off the DipBuy Alert.
With the sad state of affairs over on the US CRUDE OIL front, prices look to slam back lower therefore I am personally bearish on oil and energy stocks we can see after the dipbuy call, prices moved up well, I made a quick $100 whilst leaving another $400 on the table. Rather annoyed but the long move has come and gone. Someone definitely scooping shares into this up move and don't seem frightened to short from the lows, to the highs. Bigger players at hand seemingly know whatever is coming in the future would not benefit the longs anymore.

A quick read of their quarterly shows some concerning figures such as their operating costs per quarter. The current cash on hand levels of $40M odd have $14M+ being chewed just to keep doors open. I suspect in 1 or 2 quarters they will be announcing more of the undrawn debt facility to finance the company. They can pay debts off, but it seems to not end at this stage all the more taking away from what they actually need to do.

For all these reasons below + technicals I am of the opinion another 19c retest and potential BREAKDOWN is the stage thats setting up. I have limited my risk on here aswell as any long exposures. Good luck holders, it's fair to say since the large short that took place, I have disclosed my position aswell as the direction I want to take, all ahead of time.

SENTIMENT ONCE AGAIN CHANGED INTO A STRONG SELL - POSITION NOT HELD! Ciao STX you have been a lovely trading stock for me personally with nearly $2k made in and out on several directional trades. Time to wait for another setup and partake elsewhere