Tullow oil - TLW

Surprise rally here...no idea why....
Looks like it wants to do a 1,2,3 low breakout...
uk.advfn.com/p.php?pid=chartscreenshotsh...4QwI=&symbol=L%5ETLW

Except i see a problem here....off course i could be wrong...
To me it looks to me like a bear flag on the weekly.....
if you look carefully the whole trend down a has been the same, bear flag consolidation followed by a drop...
At some point this will stop going down... just not convinced its now....
this has results and update this week... so if your long, or going long i think use protective...
would not be shocked to see some selling into the close, leaving a bearish candle here imho...
uk.advfn.com/p.php?pid=chartscreenshotsh...N8%3D&symbol=L%5ETLW

Regards,
Trendfreind.

This failed at the trendline again...
A move to 200p area very posible...
uk.advfn.com/p.php?pid=chartscreenshotsh...OAwKD8JEcbN0uSXKs%3D

Reagrds,
trendfriend

Hi Longterm, hope your keeping well.

Thanks for pointing that out to me, your correct, i use Simple moving Average(SMA), not EMA...
Will type it correctly in future, thanks for pointing that out...
I just closed this and banked for today, the trendline is at around 239/240p (dropping daily)...be back in if can break that level... happy to bank a small profit for now...

btw, we are all learning everyday...
Be lucky,
ATB
Trendfriend.

Trendfriend,

Many thanks for all the charts on various stocks, i'm still learning, but it's much appreciated

Your message states ema (exponential moving average) but your chart appears to be using sma (simple moving averages). The gap between the 20 & 50 on the tullow chart below, looks bigger than what i have on my ema chart.

Perhaps you could confirm please?

See tullow chart with ema and sma.






Thanks

uk.advfn.com/p.php?pid=chartscreenshotsh...3zE=&symbol=L%5EGENL

This is speculative but i'm long here, as its just broken above the 20 day ema,(the chart is a bit delayed, but this has broken the 20 day ema) and retested it just now at 225p and it took out the 50 day this morning as well.
Volume is the important here, needs a big volume day to break that trendline imho....

My stop for now is at 200p, but i will move it to b/e on a bounce...

Regards,
Trendfriend.

This is the correct short term trendline imho... and this did not brreak above it....
This could go to 120/130p area, tht would be the next place to go long..
The moving avearges are holding this up atm... if they break this should move down quickly imho..
This looks bearish imho..
uk.advfn.com/p.php?pid=chartscreenshotsh...D&symbol=FX%5EGBPUSD

Regards,
Trendfriend.