jangseohee
Long

THOR is coming with a HAMMER

NYSE:XCO   EXCO RESOURCES INC
73 2 0
I said it before:
During an uptrend when moving averages deviates very far apart of each other,
thats when the bulls are in euphoric state. And sudden price plunge will come out of no way.

Identically, in a downtrend when moving averages deviates ver far apart of each other,
the investors who are despair feeling the end of the world, and out of the blue..
the Bulls coming in forming the classical textbook "HAMMER"

XCO             , one of the O&G stock was battered through out this downtrend channel. and since Mid-sept, the selling frenzy increases, price broke down the channel and again, the bull saviour THOR appear yielding a hammer to push the price right back into the channel bottom support.

SOP says only to buy when price is one tick above the high of 3.01 to confirm that the hammer is bullish
Since volume is 5x larger than the usual and the channel bottom found support, i reckon price will slowly crawl back to at least 4.4 in few weeks time.

jangseohee
2 years ago
there are times when textbook Hammer is violated ^_*
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jangseohee
2 years ago
no wonder
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