Premier - PMO

For me it's a simple ascending triangle, in consolidation but some way from the apex.

Daily is in a steep rising channel that needs to breakdown soon or re-consolidate, or it will break down.

Breakout point is 76 on monthly, 77 on weekly and 78.50 on daily, so all much as much.

RSI has now broken out in Monthly, weekly and daily.

When this breaks out I expect it to do so strongly. 96.95 is achievable quite quickly.

Close above 80 might give the channel new life, but I would look for 82 to confirm full breakout.

I see little upside in crude in the short term so fundamentals are what should drive this. Ops update next week but the financing will probably be the catalyst.

General markets are very very toppy, waiting for todays data to move IMO. US dollar also key.

A lot going on.




F4T

Pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...A6hvppI4alM0p1yYg%3D

I was looking a this as well yesterday, i agree with you guys here.
If we ignore the traingle breakout, and what i think looks like a inv h&s neckline breakout.

A move above 81p should see a decent move higher, from what looks like a extended consolidation, and effectively a longer tern bull flag, and i think it could well be 8th attempt lucky, as the rsi looks to have broken above a long term trendline.

lets see, i think this should be ok, but failure may see this back in the 60's, and as Monkeyz pointed out, may be a place to be short not long!!

lets see,
wdik, dyor,
trendfriend

Nice spot RC. Weekly chart shows a great picture. A buy for me above todays high at 80.63. Be wary of that 1H candle right at resistance. If aggressive and trading the 1H the set up would be for a nice short...

Cheers
M

This needs a close above 78.50 to motor upwards!

Today its making its 7th attempt



PMO is lagging behind the breakout on crude WTI - may be due to the refinancing update around the corner

If this manages a close above 78.50 - my target would be 93

Good luck to you TF for your holdings in PMO

premier weekly. (chart is from 2 nd Jan)

uk.advfn.com/p.php?pid=chartscreenshotsh...ZG6rwtcBYiXT7Jfstdo=

i'm long on this, from 71p. mid/long term target is 125p area, i think technicals are showing triangle, and /or quite possibly a inv H&S bottom and break above the h&s neckline. charts from 2nd Jan, and it's now broken the resistance trendline....

This is one of 4 stocks i intend to hold long term, with s atop at 45p, so lets see....i may add on further weakness....

atb, wdik, dyor,
trendfriend

I think that depends on OPEC in the short term. Higher than average volume over that last week (during the fall) tells me that there is good appetite for the stock. As we know, concentrated high volume often forms tops and bottoms. Supports at 47.25 and 43 for the 61.8% fib.
Plenty of resistance levels above.

There is a trading/operations update next week 17/11, so watch out for that if you are trading this.

F4T