Just some simple T/A here on this, no real fundy's or info to share there but it's O&G which isn't going away just yet.
Some key notes :
I like this for the cup & handle 1st stage breakout characteristic but these OTC's tend to do pretty deep retracements. We TP'd a small 30% profit as the right side of the cup shaped up nice and peaked.
Cup & Handles classically produce 3rd and 4th stage breakouts so we would look to swing the next two bumps.
The 200 EMA is rounding out nicely and we could see a golden cross soon but until then, it's not unusual to see price 30% below 50 EMA so we set out 2nd of two buys down at the 0.786 Fib level.
The 0.618 looks like a no brainer though despite some higher volume down days (which show to be in trend decline.
As always, not investment advice, DYOR and Good Luck!
Box
Some key notes :
I like this for the cup & handle 1st stage breakout characteristic but these OTC's tend to do pretty deep retracements. We TP'd a small 30% profit as the right side of the cup shaped up nice and peaked.
Cup & Handles classically produce 3rd and 4th stage breakouts so we would look to swing the next two bumps.
The 200 EMA is rounding out nicely and we could see a golden cross soon but until then, it's not unusual to see price 30% below 50 EMA so we set out 2nd of two buys down at the 0.786 Fib level.
The 0.618 looks like a no brainer though despite some higher volume down days (which show to be in trend decline.
As always, not investment advice, DYOR and Good Luck!
Box