8p target if we break resistance 2.96pWe will need to have further momentum to break for this resistance but bullish divergence is a good signal.
Watching with interest.
2.96p resistance
8p target
DKL trade ideas
DKL DekelOil BullishClosing above the 20ma today will be a good indication that we will go higher. There will be some resistance along the way but 1st target for me is 12.86p
2nd target to retest the highs at 15.72p
Buy signal indicated at 9p on the chart.
Dekel Oil ready for the seasonI love these guys and the work they are doing in West Africa.
This is a new year and we can see that in past the first months (Q1 & Q2 as first and second part of the high season) are very good so we can expect the same thing to happen this year.
Beyond all the factors that surround the production of oil palm (obvious fall at the end of the last year), from the technical point of view and directly in the chart, the fact of having respected the strong support projected from the previous top tells me that Dekel Oil is ready for a new uptrend .
Unfortunately I do not have enough information to believe that this trend can last all year, but enough to set a target for the first half of it.
I will see how it behaves and how the operation of the company develops and plan the second half of the year.
I hope you find this useful.
Best wishes to all!
Long DKL from Multidiagonal BreakoutThe initial breakout here was actually earlier in 2017, but now that the upper diagonal (that was acting like a price ceiling) has been taken out, I think we could be due a bull run here.
On this rare occasion I also have fundamental research notes too:
themaskedstocktrader.blogspot.co.uk
