Had a good entry after spotting oversold RSI, un-entangled MAs with good position of 15, 21, 50 and 200 MAs, a a good shooting start SOR. I'm watching this all-day today. If it breaks the resistance 2.84, I am seeing 2.91 as first selling point. Nonetheless, oil prices are increasing sooooo I may hold this further than just this week :D
Trade closed: target reached
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TPs 1,2 and 3 are reached and have already sold almost all my holdings.
REI, needs to reach and hold the $3.29 level, achieved on 9th of January, 2020.
What would also be needed is expanded trading volume and the stock basing for
two months, before expanding on the upside.
Also, look for a continuation of the decline of the Dollar and the start of the next
inflation cycle or possibly stagflation, as the Federal Preserve ponders its soft money
monetary policy.
You can swing trade if you like, but there is an overwhelming probability of leaving
a great deal of money on the table.
Anjo1026
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@blueicetwice, I appreciate your thoughts!3.29 is already my 4th TP. I'm at 3rd TP already and have already sold almost all of my holdings. My setup is only for swing trading and yeah, considering the influx through stimulus ,inflation might be higher soon.
hsnwrdi
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it hit 3 dollars I bought at 1.8 whats ur target for selling it
Anjo1026
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@gtamoddedacc10, 3.10 is a good TP per Fibo, 3.30 if based on historical resistance levels. Today proved the 3.10 TP as seen on the candle's high today. So there's a possibility it will go down tomorrow. But if it breaks 3.1, 3.3 is another TP :)
blueicetwice
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@gtamoddedacc10, honesty, I see a range of $6 to $12 bucks for this stock
within in the next 22 months or less.
I projected 65 to $70 p/b this year and we are already in the target zone. I
strongly suspect PEC wants to see goo in the mid 80's before expanding production
rates. There is a likelihood 50/50% of this happening within the twelve months.
What would also be needed is expanded trading volume and the stock basing for
two months, before expanding on the upside.
Also, look for a continuation of the decline of the Dollar and the start of the next
inflation cycle or possibly stagflation, as the Federal Preserve ponders its soft money
monetary policy.
You can swing trade if you like, but there is an overwhelming probability of leaving
a great deal of money on the table.