Key insights
- The article discusses a speculative trade in BATL based on geopolitical news regarding Iran and Trump's comments. While technicals might suggest future upside, the fundamental weakness and the reversal of the catalyst (Trump's comments) highlight significant risk. The stock's sharp decline from $2 to $1.40 underscores the volatility and speculative nature of the investment, with potential for further downside if oil prices do not recover or if fundamental issues persist. This event highlights the risk of trading on short-term geopolitical headlines.
I bought 10,000 shares of BATL at $2 yesterday hoping to go to $3 due to Trump’s comments about Iran. Today it crashed after Trump reversed his comments. From a technical perspective the chart looks like it has good potential of reaching $3 in the future on the daily and weekly chart. However, fundamentally the stock is weak. I am now down on my position from $2 to $1.40.
I need advice on this. Do you suggest holding for a hope that oil will go up in the near future and this will go up again or just sell for a loss?