Euronav $EURN Stock Uptrend Channel Breakdown Pattern

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Euronav $EURN stock has done an uptrend channel breakdown on December 19, 2022. The stock is in a technical uptrend.

Euronav stock chart on December 19 2022 with uptrend channel breakdown and a negative MACD and money flow
Euronav stock chart on December 19 2022 with uptrend channel breakdown and a negative MACD and money flow

Euronav NV downgraded at BTIG

Euronav NV was downgraded by BTIG analyst Gregory Lewis from Buy to Neutral. The continued Very Large Crude Carrier, or VLCC, rate rally is anticipated to lose some of its luster as a result of the OPEC production cuts, according to the analyst in a research note to investors. Through 2023, US crude production is expected to rise by about 1 MBD, but only 200 kbd of that is anticipated to come online in the near future, according to Lewis. As rates fall, VLCC fixture activity is expected to decrease.

Euronav Corporate Movie

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