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TOPIC: Advice: How do I interpret the HBR chart

Advice: How do I interpret the HBR chart 27 Mar 2023 14:46 #1

  • Trendfriend
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harbour energy - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...yCaX8DiDwk/s8TeHY9s=

This needs to get a close x3 or a weekly close above the pivot level at 300p for a a signal of reversal of trends.

below 300p it looks nailed on to go lower imvho...but as always wdik..and i could well be wrong (again) :whistle:

atb,wdik,dyor,
trendfriend
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Advice: How do I interpret the HBR chart 16 Mar 2023 13:40 #2

  • Shotry
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It doesn't matter really as any chart will show roughly the same thing and I don't have a strong view on how to deal with it Paitech. I'm not saying 'is my view valid', I'm asking an open question about how to interpret HBR from a TA perspective.
All it takes for the triumph of evil, is the silence of 'good men'
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Advice: How do I interpret the HBR chart 16 Mar 2023 13:20 #3

  • Paitech
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Would have been nice to add your chart at least?
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Advice: How do I interpret the HBR chart 16 Mar 2023 10:35 #4

  • Shotry
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Since it's merger, HBR has had a good beta with an overall downward bias. There's a huge gap, that I personally would ignore as it derives from the merger. That leaves limited data for me to make a judgement on. Currently the SP is inside the gap with a downward bias, but if the gap is no longer relevant I'm a bit lost.
Background is that technically POO is high enough for HBR to make a good amount of money. Debt is high and now the government has introduced it's energy profits levy, HBR is paying 75% tax n all UK profits. Obviously that's going to impact it's SP. Supposedly, Hunt will put a price level in place (or staggered system for taxation) this month. My own view is that, that would lead to relief of the downward pressure on the SP and probably a rise and maybe some closing of the shorts (currently declared at 2.7%)
Can any of you help me with interpreaton of the chart? Currently I can only trade it based on lagging indicators and speculation.
All it takes for the triumph of evil, is the silence of 'good men'
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