Patience is needed
Updated
BUY
- Need not to rush for the entry since it’s still on a short to middle term downtrend
- Best possible entry should be above 445 or better, 460 when it breaks the neckline
- If one wish to pick it down low, buy it when it’s still above the trendline but be ready to cut loss once it breaks the lower trendline
SELL
- Those who bought at the top would have lost 20% - cut loss to find better chance
- Time is the real commodity here – expecting a rebound to previous high requires a 30% climb and too it wastes a lot of time
RATIONALE
- Resurgence of COVID makes recovery-themed stocks suffer – O&G stocks are some of them
- Brent is hiking and possible hikes might be coming soon?
- Longer timeframe charts are still on healthy uptrends – patience is needed
- Reversal on trend is seen on longer timeframe
**the analysis is solely for my own references and learning
- Need not to rush for the entry since it’s still on a short to middle term downtrend
- Best possible entry should be above 445 or better, 460 when it breaks the neckline
- If one wish to pick it down low, buy it when it’s still above the trendline but be ready to cut loss once it breaks the lower trendline
SELL
- Those who bought at the top would have lost 20% - cut loss to find better chance
- Time is the real commodity here – expecting a rebound to previous high requires a 30% climb and too it wastes a lot of time
RATIONALE
- Resurgence of COVID makes recovery-themed stocks suffer – O&G stocks are some of them
- Brent is hiking and possible hikes might be coming soon?
- Longer timeframe charts are still on healthy uptrends – patience is needed
- Reversal on trend is seen on longer timeframe
**the analysis is solely for my own references and learning
Note
UKOIL gives a positive sentiment - change of trend but difficult to move due to big cap company
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