Ophir Energy

Well - quite clear which way it broke, as we can see on the close up 4H chart




What isn't so clear is where it is heading. It's already below S3, and Right now it is sitting bang on the 78.6% fib, but that doesn't look like a great area for a bounce. There is an area between 266/76 where it could maybe find some support. Below that is 178 support, as well as channel support.

gclark25 wrote: Interesting weekly/daily area for Ophir Energy at the moment.

Not clued up on the fundamentals personally, but technically speaking, it's an interesting area where it isn't quite clear which way it is looking like breaking.

Anyone else following or got any views on this one?

Something else worth paying attention to is a possible gap down to 290ish (visible on the daily, but clearer on the weekly chart). Might act as support.

Yes I'm playing it. I've entered small this time round. I'm taking bits out of each bounce. There's a nice gap a little bit higher (I've closed my software for the day but off the top of my head it's about 327), which is a nice target should it turn. Have been occupied with the FTSE today so not played the 2 bounces off the 292/293 area, although that could have been profitable.

Interesting weekly/daily area for Ophir Energy at the moment.

Not clued up on the fundamentals personally, but technically speaking, it's an interesting area where it isn't quite clear which way it is looking like breaking.

Anyone else following or got any views on this one?

from this weeks share tips...
Based on going long from strong support area and stops below...
There is a divergence as well with the rsi


dl.dropboxusercontent.com/u/4899609/ophir20thjan2014.png