The $7 zone is an important support area for AR at the moment and the AR could rally to $9 and $12 from this zone. But if AR continues to lose this area, it will fall to the $ 5.5 zone
🔴Buy : 6.85-7.15$. SL if B
🔴Buy : 8.8-9.2$ if A. SL if B
🔴Sell : 8.8-9.2$. SL if A
🔴Sell : 11.7-12.3$. SL if A
🔵Sell : 6.85-7.15$ if B. SL if A
I like the flag correction after nice impulsive move up, expecting the impulsive move to continue higher.
Don't forget to manage your risk! 👌
Good luck and trade with care 🙏
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All year EQT, an unloved natural gas producer has been a swing trader's paradise. I've harvested so many gains from these E-cutie trees I thought I'd make a thread just for it and post trading updates.
The macro technical picture is clear. Years of being battered by shorts ended with capitulation in 2020, followed by a swift rebound. Fundamentals are tightening....
IP / IPNFF is highly oversold at the moment
MACD indicator has recovered
prices of small cap companies should be rising again after the drop in April 2021
investors have not been rewarded so far despite of very good news (partnership in NFT sector, new deals and collaborations in the sports sector, several successful sales of their SDK, new patent,...)
As we approach the upper band of the channel we can start to anticipate a break . Backed by increase of volume we could see the SP break out shortly . I Will keep a close on on these shares and look for a possible entry. Aggressive traders will be looking enter now. Target 1 would be around 8.5 with target 2 around 15.
JSE:ANG has formed a double bottom chart pattern and is showing some upward momentum based on the upward turn on the stochastic at the end of March and, more recently, the crossing of the EMAs and the upward turn of the MACD. If it breaks through the highs formed in early March, it might give us a nice upward move.
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* 4h-1d chart showing MACD crossover on just over 7.2M shares volume for the day posting a nice 10.5% gain.
* CCI just crossing 0 and RSI bouncing nicely off 50% zone showing strength of owners holding put.
This has been beat up from earnings and looks ready to reverse based on the daily hammer candle and close over the 100 daily moving average, just formed due to the recent history of the stock, see the orange line. Interestingly this also looks ready to reclaim the upward channel from October and November of last year. Entry provided over 61.8% fib from all time...
We may have missed the initial move but looking to at least hit the top of the channel again at 8.50. This could move beyond with natural gas numbers looking very bullish. AR predicted $181 FCF for q4 on 26ish barrel pricing and it averaged 27.09. Also current pricing is indicated at 38.96 with the polar vortex. With ER on 2/18 I expect this to continue the trend upward.