Long GENEL today

Bought in GENL today at 121p.

Lets see how it goes..

Good day
ta
G

On the 6th Jan 800,000 for Morgan Stanley.

otp.investis.com/clients/uk/genel_energy...id=338&newsid=641946
Incidently, Morgan Stanley has a Designated Market Maker on the Genel Book


One the 1st December Encompass Capital Advisors LLC increased their Genel Holding from under 5% (% = 12,437,366) to 22,785,255 or 9.16%

Most of II are loading up.. while PI are selling up....

RSI breakout here, so i'm long(couldn't resist...lol)
target a move up to the 20 day and the trendline, around 205p/210p area.

Hope everyone at CV has a great Xmas, and the best 2016!!!

ATB,
Trendfriend.

Thanks Trendfriend - great weekly chart!

It's quite alarming what has happened to this stock - and, as you say, the picture of oil at the moment, isn't a pretty one - it makes for very definite case a 'sitting on the sidelines' for the time being I think.

Best,
Anne

Hi Anne...
Yeah surprising this has fallen so far down!
That target around 150/160p was from a couple of weeks ago.
As the chart is a weekly the trendline and target is falling weekly as well, for next week it's around 135p...
Its has always bounced from that falling support trendline, you can see from the arrows on the chart...
The bounces look small, but are actually quite substantial, as it's a weekly chart...

I did trade that trendline at around 275p last time, but i'm not so sure this time around...
This time i may sidestep this if it hits that level, simply based on the fact oil and the main markets look so bearish atm....
I honestly think we have already seen the highs on the dow and s&p, and soon we will may have big falls... just my opinion, i could off course be wrong...

lets see if Genel gets to that level and hits the trendline for now...i will off course be onto this if we get a good sign of change of trend...
ATB,
Regards,
Trendfriend

It would appear that you're quite right and we're on our way down to 150 - ish! Yuk!! To think I was trading this at the £8/9 mark not that long ago.....

Anyway - anyone got any more views on a likely top up point on this?

Cheers!