Premier - PMO

What do you think to Faroe Petroleum plc (FPM)???

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...JP/nl95xbzYN+duujAk=

a few quick charts of stocks we have been following...

this has smashed through the 80p area....and its really getting punished..

i have redrawn the main trendline using only the very bottoms of the candles...could it get a bounce from that around 68p??

i'm tempted to try a scalp long here at 68p...with tight stops...i think maybe only a small rally to get the rsi back above the oversold level...and then down again... a drop below 68p opens the low 50's

atb, wdik, dyor,
trendfriend

she's starting to fail now now...watch 80p area next...for possible scalp long...

atb, wdik, dyor,
trendfriend

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

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

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correction here, forgot to write RSI on the original post.

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

Premier Oil (PMO)
weekly chart
currently at 38% fibonacci from a Low of 19p Jan 2016 & High october18 at 146p, if this support fails then trenlines & support at 50% fib area at 85p & 200ma(weekly) 88p

daily chart