Babcock $ Wilcox Enterprises Inc (BW)

[KelliBlue]

Try using support and resistance

This ticker tanked when they charged off a bunch of losses on their last ER for a big downside surprise. I think they had to do this before they could secure a $600m line of credit w BOA

The sell off was way overdone given that enterprise value excluding intangibles is over $4 per share.

A lot of ppl tried to catch the bottom and took losses all the way down to 1.70

I Bought around 2.73 and got stopped out. Got back in with a 2.01 average, sold in the 3s, got back in at 2.75 where I'm currently holding. Expecting 4.40 to $5 before their next er. Not holding through the next ER, but this ticker has good rinse and repeat potential.

Probably would be a chase at this point, but if there's another pullback below 3 I'll add more