It seems a good stock where to invest for a long term investment..Just hold for now as there are not signal of trend reversal and the market is still bearish.
The bottom black line seems to be support, the above light blue line is where there had been previous resistance and support previously, my prediction is that it will either rebound off of the light blue or, due to it's high volume and increase, break through resistance and rebound somewhere in between the light blue and navy.
my strategy would be to wait, if it...
Not to sound contrarian but UKOG has options to play with and thats going to make the next moves a little tricky to predict.
I still believe there will be a bigger pull back but it might adopt some rather unorthodox patterns to get back to 5 or around the 50% retracement level.
Ultimatey i'm waiting for price to pull back and establish a value range of types...
Is this another oppotunity for this price to go up?
News has been good so far altough a little slower than I thought and there is more news on flow test to start.
Climatic buying into top at 9 may result in a run out of steam as commitment burns out and the price does not offer much more value resulting in a gradual pull back (time, news and economics dependent) which may offer a good entry at the 50% retracement. Should it move deeper a more significant level at 3 which was previously strong resistance would work as a good...
