Hope your keeping good Austin...

brs weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...sZUgGQwjQVObveluV5c=
showing a main trendline failure.


brs daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...q3gw4ZS1wEhg8AAzohU=

shows bearish rsi div. and bearish ema line crossover.

this i think looks bearish....if i really liked these i would be watching 10 bucks level, (with very tight stops) imvho....but wdik...

atb, wdik, dyor
trendfriend

Hi All,

Revisiting this again.

This had a really good day at the start of February (after quarterly results) with a 25% upswing, sadly it failed to maintain it and has been in a decline since. Well below all the EMA, RSI in the gutter, but is that a hammer I see?

So, after the recent run up to the 200MA, we have had a retreat to usual territory. Trend line is support (just), with the most recent low not far below. I really want this to head north but fundamentals are still not great....quarterly results next week too.

Hope you managed to get in.

Nice Analysis and chart. You could well be right, this has been bearish long term, but i think it could be looking to turn soon imho...

BRS. weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...nSYTxTfvhyg5NDX8M%3D

Clear downtrend, from around $80, down to around $10.

BRS daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...3yQsQ2iPxGitzU6+iwE=

The red support line at around $10.80/ $10.5 area, looks to be a basing taking place. Only one break below this down to a low of $9.50, which looks to be a bear trap break.
That drop to $9.50 area was quickly bought into, this could indicate strong support below $10.80.

The basing at $10.80 has been taking place since since Feb, and the longer the period of basing the stronger the bounce up when it eventually happens.

I think this stock should could have bottomed and a bounce to $15 to $18 (200 day ema line) area is possible. this looks to be a buy at that $10.80/$ 11 area.
Cautious buyers would wait for a weekly close above the 50 day ema line.

A move above 12.50 area would be a 1,2, 3 low breakout as well.
Only a close below the August lows would delay the recovery argument imho.

Hope that's helpful all the best.
imho, dyor, wdik
Trendfriend

---

nice move up here
the strength of the move suggests the next target of $18 could also get hit imho.

dyor, wdik
trendfriend.

looks like a 123 low, but stops should be placed below 10.5.Only thing with this share its been going sideways for a long time so 123 set up is not the best one but id still trade it.

Do we have the 1-2-3? I think (chart wise) this could rise, but on fundamentals I remain unconvinced. Opinions welcome.

Thanks Trendfriend.

Today saw a +10% intraday move but retreated from both the 12.80 resistance & (down) trend line, closing 6% up and above the 50 day MA. Lets see what happens next???

Nice Analysis and chart. You could well be right, this has been bearish long term, but i think it could be looking to turn soon imho...

BRS. weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...nSYTxTfvhyg5NDX8M%3D

Clear downtrend, from around $80, down to around $10.

BRS daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...3yQsQ2iPxGitzU6+iwE=

The red support line at around $10.80/ $10.5 area, looks to be a basing taking place. Only one break below this down to a low of $9.50, which looks to be a bear trap break.
That drop to $9.50 area was quickly bought into, this could indicate strong support below $10.80.

The basing at $10.80 has been taking place since since Feb, and the longer the period of basing the stronger the bounce up when it eventually happens.

I think this stock should could have bottomed and a bounce to $15 to $18 (200 day ema line) area is possible. this looks to be a buy at that $10.80/$ 11 area.
Cautious buyers would wait for a weekly close above the 50 day ema line.

A move above 12.50 area would be a 1,2, 3 low breakout as well.
Only a close below the August lows would delay the recovery argument imho.

Hope that's helpful all the best.
imho, dyor, wdik
Trendfriend

Ah Trendfriend, put me on the spot why don't you!

Significant downtrend (business is inextricably linked to oil industry)

Trading in a narrower and narrower range

Is below the 200, 100 and 50 MA, the latter appears as the most resilient resistance

Below the trend line

Low volume

A break above 1180-90 with a retest could see it go higher, although all I see ahead is resistance (and fundamentally I see little reason for this to occur, as per my first point)

But, what I think we see, not drawn on my chart is a consolidation pennant, and I expect a break below....

Hi Austin,

I can my view, but why don't you have a go first??

You've quite a lot work on the chart already!

atb,
Trendfriend

Anyone able to provide guidance on what you think might happen with this one?