pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...82RQizyyHnYXsK3lXHk=

bit of bounce at 67p....i think straight back down for a test of 54p....i may buy if we go there...

atb, wdik, dyor,
trendfriend

pmo- weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...Ut2//bEbCD7GYy9OEQg=

looking at this...its come close to the 67p i was looking for below...

a longer look at the weekly suggest this is testing the main trendline...a weekly close below this on a end of week closing basis....should see a substantial further drop....towards the 60p > 50p imvho...

atb, wdik, dyor,
trendfriend

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...C2YuIeI5wkWuCGF+qJA=

This is testing the bottom of the trend channel...if it holds could see a rally...if it fails( i think it will imvho) look for next support at 67p area....

atb, wdik, dyor,
trendfriend

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...qNq2IwstbIP+3dIy688=

This one has possibly seen the highs....and i think a p/b to test the day ema line feature and main trendline looks to be the next move....
Especially with the bearish rsi divergence in place atm...so that last mini rally wasn't the real deal imvho...

look for 85p to get long for first test of main trendline...

atb, wdik, dyor,
trendfriend

Was feeling sad I sold too early , feeling happy now it has gone below my sell price..
Few glasses of monkey shoulders helps

Sold my position at 90p...
I hope I was right

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...AI7GgTMx0Cw78uNB+4Q=

This has broken out today from a 1,2,3 low formation, which Remo pointed out below.... and that 80p/82p area is also a pivot level.

So this looks good for further gains...i thought it would fail around that level, but it's proved me wrong

next stop and test is the 200 day ema line....

Nice charts Paitech...and good trade...

atb, wdik, dyor,
trendfriend

Good one... I hope this goes up..
In from 76.5p, yesterday!

Will she go up or down?...

Remo, et all,

what do u think of this video?
I am still trying to learn this art of 1-2-3

ta
G

Looking at your chart,,,,there could be a 123 low formation....but it need to break the 123 low formation to enter....
So needs a break above 80

pmo - daily

uk.advfn.com/p.php?pid=chartscreenshotsh...M3gS5MVtrd78yd4rQ%3D

nothing going on here...sideways only...another stock i think is getting set for a big gap down imvho...

atb, wdik, dyor,
trendfriend

just a quick post for this...

today's gap down is not great technically....
this should test support at 65p, below 65p look for a lower low imvho...a new low is where i think this is heading now imvho...

chart later...
be lucky folks, and a late happy new year everyone...


atb, wdik, dyor,
trendfriend

How did I miss this.. I had around 15K on sidelines for this one...to buy in around 60s...

good RNS out today...

Trendfriend wrote:
This was the call back on the 11th of Nov, when this was around 100p....
This did look like it was technically in very bad shape...and so it proved...its now very close to the target entry level of 53p...

If you like this stock then you can do a lot worse than buying here...56/57 is a good entry....
However i would say keep some powder dry, as a further drop cannot be ruled out...possibly as low as 43p imvho...

Hope that's useful and good luck folks...

atb, wdik,dyor,
trendfriend

What is your target price TF?

I am not sure if these oilies are any safe as the WTI and BRENT are hitting lower lows.

ta
G

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...DrPxBfovPf7tFLYL8%3D

This could be finding a bottom, however technically this is not a buy unless it can close above 75.75p being the 20 day ema line feature on the daily chart...

For me this looks like a bear flag consolidation, with another leg to the downside to come.. and it looks like its imminent now imvho...

pmo - weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...RtHlr5EtnPexQvLhs%3D

the weekly shows the likely targets...while below 75.75p

atb, wdik, dyor,
trendfriend

This one looks closer to support line...
Buy or hold off? ....
Weekly and daily charts added... ta G

pmo - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...EMGNn04immeT8qUxs%3D

the call here was for a drop to around the low 50's here...as things stand it has found some support around the mid 60's...a break above 72.4p is a 1,2,3 low or h/high....could equally be a bear flag....and its a fine line between the two sometimes

atb, wdik, dyor,
trendfriend

i think caution with this imvho...
the way it's hanging around that trendline is not a good sign....ideally need a quick drop to that area...and then bounce....therefore a change of momentum...


this looks like it wants to break down imvho...lets see..

atb, wdik, dyor,
trendfriend

What is the support on the oil Price as the falling prices are not helping oil Shares?????

currently sat at two Support levels,The main trend line 68p & 61.8% fib from high of 147(2ndoct) & low of 19p(12thJan16), I have another Horizontal suppport level if tendline breaks(63p)

What do you think to Faroe Petroleum plc (FPM)???

What do you think to Faroe Petroleum plc (FPM)???

What do you think to Faroe Petroleum plc (FPM)???

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...JP/nl95xbzYN+duujAk=

a few quick charts of stocks we have been following...

this has smashed through the 80p area....and its really getting punished..

i have redrawn the main trendline using only the very bottoms of the candles...could it get a bounce from that around 68p??

i'm tempted to try a scalp long here at 68p...with tight stops...i think maybe only a small rally to get the rsi back above the oversold level...and then down again... a drop below 68p opens the low 50's

atb, wdik, dyor,
trendfriend

she's starting to fail now now...watch 80p area next...for possible scalp long...

atb, wdik, dyor,
trendfriend

The weekly here..
uk.advfn.com/p.php?pid=chartscreenshotsh...g7bgQmSiDyRp25SoM%3D

again note the RSI break below the support, first break below since 2016 lows....

---

correction here, forgot to write RSI on the original post.

I was looking at this yesterday....i was looking at quite a few oil stocks...with a view to buy and hold....

This one here doesn't look great to me imvho....can't quite put my finger on it...but something here is not quite right....and i think the downside could be more than the 80's here imvho... and this is a important week here, as this needs to hold 100p area to avoid getting smashed imvho...

first the daily here...
uk.advfn.com/p.php?pid=chartscreenshotsh...CU1sL3r2Jo+RvpkbaUc=

see the way the 20 and 50 day are pointing down...
The rsi first the massive bearish div....and then the break below support, first time in 2 years...
its not a teeny bear trap break below...been below for a month or so...

The weekly here..
uk.advfn.com/p.php?pid=chartscreenshotsh...g7bgQmSiDyRp25SoM%3D

again note the break below the support, first break below since 2016 lows....

we have a pivot support at around 98/100p...once that goes, this will(should) move quickly to low 80's imvho... pivot support here as well...
i think that level will go as well.....leaving the door open for a move as low the 50's imvho...

any longs here need to wait for hh or 1,2, 3 low before entering...

i think genel looks the pick of the oiles for me imvho...

will try and post a chart on that later...

atb, wdik, dyor,
trendfriend

Premier Oil (PMO)
weekly chart
currently at 38% fibonacci from a Low of 19p Jan 2016 & High october18 at 146p, if this support fails then trenlines & support at 50% fib area at 85p & 200ma(weekly) 88p

daily chart

pmo -daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...QvWZwWjJzqQ/9W+koAs=

Quick look at some stocks we have been following...

This is really struggling at the 200 day ema line atm...so its building the power to go one way or another....seeing as its spent around 2 weeks hanging around below the 200 day ema line...its highly likely to be a down move than up imvho...

atb, wdik, dyor,
trendfriend

Out for a small loss

that's a very odd trendline you've drawn there trend by any measure!

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...CF6kAaqAo+SZKvbxUMw=

this looks like its fallen below its rising trend channel...and closed below the 200 day ema line...at 108p

while below that 108p on a eod closing basis...i think 80p is possible imvho...

atb, wdik, dyor,
trendfriend

Bought in at 105p ,10k£

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...s3ka0ZsdcQE3zM6J4%3D

this stock is also breaking down...also looks like a bear flag breakdown imvho....
This needs to hold the key 60p pivot level and the main trendline at around 58p....(rising a touch daily)

if those two levels fail....this is in real trouble....i said in the post below of 20p here again...off course that at this stage is quite unlikely....but if 60, and 58p fall here....that target is very much on imvho...

Paitech....you can draw the trendline like that if like....nothing wrong with your trendline....just need to bottoms to draw a trendline....however a trendline with more touches is reliable for trading....and relevant...that's why you have names for trendline....short term t/l...long term t/l....main t/l etc...

take care, and be lucky folks...
atb, wdik,dyor,
trendfriend

TF,
Have a look at a chart I found today on PMO.
My chart trend line and one on this seems to match but you have a trend line which shows its already broken?
How do you go on about this trend lines?
I may need to go back to basics again...
Ta
G

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...XKpiyfoKVCNcZz3sw%3D

this has already broken the mid term trendline imvho....it is finding some buyers at the key 200 day ema line feature on the chart.....if (or once) that support subsides....this should come down to the main trendline at around 56p currently.....

I did warn earlier in the thread of that possibly happening.....if that level fails it could be heading to the 20p gap fill......

lets see....what happens here...

atb, wdik, dyor,
trendfriend

not sure why it didnt add the chart...

Looks like PMO is at critical point at 70p?

If it breaks.. high chances of going down...
March 8th earnings are out.....

ta
G

This needs to hold 76p Elena.

Below 76p > 70.50p
below 70.50p calls for sub 60p, a test of the inv h&s trendline.

The drop may now depend on the scale of the p/b on the main markets....

atb, wdik, dyor,
trendfriend

Reading this historical thread it mentions 88p and 86p as the region of support.

Interestingly this level proved to be support again this week.

Remo always states that support levels can be revisited over a long period of time.

Not posted here for a long time. Forgot my password. Hope Remo and all are doing ok. I am trying to recover my capital.
Doing well over the past 2 years.

Looking back at my post of 11/1, option 1 is playing out exactly. We had a bounce at 87.75 yesterday. This is now also supported by SMA20 at 86. A break gives rising trendline support at the ~76 currently and SMA50.

I do see further weakness in the short term with crude but fundamentals might hold the mid 70's, supporting technicals.

So, agree TF

F4T

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...z10PQxxKP7rBt7x0k%3D

I think between 80p (50 day ema line) and 75p (main trendline) on p/b here, for a nice entry that makes the r/r worthwhile....

atb, wdik, dyor,
trendfriend

There is a big RNS this evening....

Premier Oil : Invitation to exchange convertible bonds
01/11/2018 | 06:19pm GMT

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR IN ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW

Premier today announces an invitation to convertible bondholders to accelerate the exchange of the outstanding convertible bonds (the 'Bonds') into ordinary shares of the Company. Further details of the formal invitation are set out below.
Rationale
The convertible bonds are capable of being exchanged at any time and are currently trading 'in-the-money'. With this invitation, the Company is seeking to accelerate the exchange of the Bonds into ordinary shares, which has several advantages for the Company, its shareholders and bondholders:

The primary purpose is to reduce the Company's indebtedness: the early exchange of the Bonds along with the recent non-core disposals of Wytch Farm, CENSOREDstan, and its interest in the ETS pipeline and the start of production at Catcher, will assist the Company to reduce debt and to impact positively the Company's forward financial covenants;
It will rebalance the Company's capital structure and should reduce hedging activity in the Company's ordinary shares: the Company's capital structure currently comprises shareholders' ordinary equity plus long term borrowings which include UK retail bonds, senior loan notes, bank debt and the Bonds. Accelerating the exchange of the Bonds will increase the equity base of the business whist reducing outstanding debt and associated hedging activity (short selling) by certain holders of the Bonds;
The early exchange of any Bonds will lead to a smaller total number of ordinary shares being issued in respect of the Bonds than would be issued if all coupons were paid in ordinary shares and the Bond were held to and exchanged at maturity;
The invitation is open until 3pm (London time) on 16 January. A further announcement will be made shortly thereafter confirming the outcome of the invitation (which is at the discretion of the Company).

pmo - weekly

uk.advfn.com/p.php?pid=chartscreenshotsh...VTzhBIQ0AZ4FiLk3g%3D

its broken above that key 100p (possible double top level) since i posted the chart this morning!!

If it closes above 100p, it should be a decent enough breakout of resistance, and hence on its way higher......but wdik!

atb, wdik, dyor,
trendfriend

Shall I hold or shall I sell

Definitly not a double top, it looks more like 123 low on weekly and monthly chart

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...zncZmfn8z4rFEpBgFS0=

double top here imvho...doesn't mean its not going higher, and if one has soem kind of fundamantel insight here then more then entitled to hold, and see if it breaks higher....

As far as the technical's are concerned, the rule "if you see a double top, you sell a double top" comes to mind.

especially considering you can jump back on board on break higher....

off course all imvho....


atb, wdik, dyor,
trendfriend

Breakout progressing nicely with confirming volume but that's 5 gaps up now so it needs to retrace.

Some crystal ball gazing:
Ops report out today and with next resistance at 103.44 it's a nice place to retrace from if the RNS gives a little extra than expected. 61.8% retracement of recent move takes us nicely back to the 86.75 resistance mark, now support and 23.6% of the whole move from 42.75 gives us 89, so a retrace to between these two levels would allow a steady move higher.





An ops report with expected detail might touch 100 before retrace. This gives a target of between 85.50 and 86.50 by the same means. 86.75 is the key support once again.




Let's see what happens.

F4T