Tullow oil - TLW

That trend line break is only a short term trend line break.

dl.dropboxusercontent.com/u/4899609/far%20view%20tullow.png

theres 3 trend lines that can be drawn on this.
short term...break out and respecting it currently.
medium term...this is around 400 so long way from there.
long term.....this is around 900 so really far away from there.
so based on this you would use the short term trendline for trading as the others are way to far away.
This shows how far tullow has fallen...shocking ..
There is a 123 low forming on this share currently


dl.dropboxusercontent.com/u/4899609/tlw22ndoct2015.png

so look to go long above 268 and a target of the 200ema , but early entry would be done for me at a finish above 230 with stops below 210 if activated.

Thinking loud.. where do I go long..

@ 206 which is 50MA or at 191 support... attached pic... mostly 191p I may go long.

Fair enough Longterm, i have seen trendlines drawn that way, using closing prices...not going to say it's wrong, or right for that matter
I like to use the top of the candle's as it represents the whole days movement in a stock...
Anyway you could well be right, i'll agree with you if we close above the 20 and 50 day on the weekly

Until then this could well see the lows, and below imho...

Regards,
Trendfriend.

Alternative view.

Far out man!!



Closer



Close Up



Based on closing prices, it appears to have broken the trendline and closed above. It has then retested the breakout yesterday, which coincided with the 50% fib from the start of the move.

On the otherside, it has created a 1,2,3 high.

ok, Tullow oil, i have done well from this and Glencore, but one must trade what you see, and past sentiments usaully results in losses.. so with no emotions and positions here atm we go..

uk.advfn.com/p.php?pid=chartscreenshotsh...Bj+zaAqDyY1rYAoBeHs=
The daily, looks good, held above the moving averages today, and could be said that's a bull flag in play??

uk.advfn.com/p.php?pid=chartscreenshotsh...DIivXBH4iX1/+UeleHA=
However this looks a bit like Genel a few days ago, needs to break that down trendline for real strength imho..

uk.advfn.com/p.php?pid=chartscreenshotsh...2Fl51hJKD6aiSzPbw%3D
The weekly shows the bearish mid term outlook here, still below the 20 day ema, that shows bears still in control here...

summary..
uk.advfn.com/p.php?pid=chartscreenshotsh...LmNS8TUhmylkbOTbo%3D
120p is a real possibility here imho..
if you do take a position wait to see if the rsi tests and holds support, and the share price holds at least one of the moving average's (shown on the first chart). I'm waiting and watching atm...
Pull up your own charts folks and see what you think, as usual dyor,
regards,
Trendfriend.

Sorry Paitech, don't have my laptop to access charts!
Try and take a look this evening...
If you do take a position, i would advise to put a stop....below support...as drops are big on these stocks atm.. can always buy again lower if you get cut out...

Regards,
trendfriend.