Weekly chart favors a bounce from these levels due to the falling wedge, oversold stochastics and positive divergence across all indicators. The daily chart has positive divegence as well increasing the liklihood of a pop in price now. From a price over 90 two years ago to now briefly under 40 yesterday, providing a long entry point for traders with nerves of steel. The worst appears over for RIG. Projection is sideways to sideways up for the weeks and months ahead. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.