littleriver
Long

Rsp Permian Inc Flag

NYSE:RSPP   RSP PERMIAN INC
102 18 3
This Texas oil             and natural gas             producer IPO is off to a good start. With recent earnings meeting analyst expectations, it may be time for this flag to pay off. The risk/reward ratio looks decent here for an entry and I have a target near 32 -33. After much discussion and the suggestion of Leones, I am adding a first target of 30. If price manages to cross this level, then look for the second target near 32 - 33.
LEONES PRO
2 years ago
NICE THIS ONE
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littleriver LEONES
2 years ago
Thank you!! I am learning ;-))
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LEONES PRO littleriver
2 years ago
How did you define that target?
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littleriver LEONES
2 years ago
I considered two things. The flag pole and the range of the current formation. After considering both, I decided on the more conservative target. Not sure the method is technically correct but I find it often gets close. Do you have a suggestion?

snapshot
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LEONES PRO littleriver
2 years ago
not sure here, you might be right but my feeling is that is not going to cross 30.00 maybe range
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littleriver LEONES
2 years ago
I appreciate the look. 30 is definitely the line in the sand. Looking closer at the volume on the candles that have traded in this price range, there is not much activity. I guess we will see if and when it gets to 30.
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LEONES PRO littleriver
2 years ago
it is going to the median line anyway, that is the target
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littleriver LEONES
2 years ago
I have noticed that you use median line and target to define time for some trades. How well does that work?
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LEONES PRO littleriver
2 years ago
I find it works quite well - it is good to have a time reference.
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littleriver LEONES
2 years ago
Yes it is .......thank you for sharing!!
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littleriver LEONES
2 years ago
I can not change the chart but I did add the idea of a first of 30 in the description. Thanks for your help.
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LEONES PRO littleriver
2 years ago
lets' see if the drilling in Texas goes well!
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LEONES PRO littleriver
2 years ago
look also also at transocean (RIG) it is quite interesting
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littleriver LEONES
2 years ago
Rig looks like the beginning of something big.
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LEONES PRO littleriver
2 years ago
yes im long, coming out at 48 but could go even higher, oil price is supportive
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littleriver
2 years ago
First target reached.
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LEONES PRO littleriver
2 years ago
that was a nice move
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littleriver
2 years ago
Second target reached.
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