Premier - PMO

just a quick post for this...

today's gap down is not great technically....
this should test support at 65p, below 65p look for a lower low imvho...a new low is where i think this is heading now imvho...

chart later...
be lucky folks, and a late happy new year everyone...


atb, wdik, dyor,
trendfriend

How did I miss this.. I had around 15K on sidelines for this one...to buy in around 60s...

good RNS out today...

Trendfriend wrote: I was looking at this yesterday....i was looking at quite a few oil stocks...with a view to buy and hold....

This one here doesn't look great to me imvho....can't quite put my finger on it...but something here is not quite right....and i think the downside could be more than the 80's here imvho... and this is a important week here, as this needs to hold 100p area to avoid getting smashed imvho...

first the daily here...
uk.advfn.com/p.php?pid=chartscreenshotsh...CU1sL3r2Jo+RvpkbaUc=

see the way the 20 and 50 day are pointing down...
The rsi first the massive bearish div....and then the break below support, first time in 2 years...
its not a teeny bear trap break below...been below for a month or so...

The weekly here..
uk.advfn.com/p.php?pid=chartscreenshotsh...g7bgQmSiDyRp25SoM%3D

again note the break below the support, first break below since 2016 lows....

we have a pivot support at around 98/100p...once that goes, this will(should) move quickly to low 80's imvho... pivot support here as well...
i think that level will go as well.....leaving the door open for a move as low the 50's imvho...

any longs here need to wait for hh or 1,2, 3 low before entering...

i think genel looks the pick of the oiles for me imvho...

will try and post a chart on that later...

atb, wdik, dyor,
trendfriend

This was the call back on the 11th of Nov, when this was around 100p....
This did look like it was technically in very bad shape...and so it proved...its now very close to the target entry level of 53p...

If you like this stock then you can do a lot worse than buying here...56/57 is a good entry....
However i would say keep some powder dry, as a further drop cannot be ruled out...possibly as low as 43p imvho...

Hope that's useful and good luck folks...

atb, wdik,dyor,
trendfriend

What is your target price TF?

I am not sure if these oilies are any safe as the WTI and BRENT are hitting lower lows.

ta
G

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...DrPxBfovPf7tFLYL8%3D

This could be finding a bottom, however technically this is not a buy unless it can close above 75.75p being the 20 day ema line feature on the daily chart...

For me this looks like a bear flag consolidation, with another leg to the downside to come.. and it looks like its imminent now imvho...

pmo - weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...RtHlr5EtnPexQvLhs%3D

the weekly shows the likely targets...while below 75.75p

atb, wdik, dyor,
trendfriend

This one looks closer to support line...
Buy or hold off? ....
Weekly and daily charts added... ta G