PGS is testing one of the major support levels @ 5.4kr; on SMA50 daily and the bottom of the rising channel.
Having two important levels make this support even stronger.
The obvious resistance is 10.2 in long term.
Recent Good catalyst news from the company; strong seismic library; rejected TGS offer for 700$M for data; uptrend technically; bankruptcy of...
RSI and price are divergences and this means volatility is decreasing and a chance for price falling down to major support channel 71.5-75.
Set Alarm for entry on support after confirmation bottom reversal.
Couple of weeks after IPO, it popped up and formed first bull flag pattern following a deep pull back to resistance and forming a triangle pattern.
waiting for second bull flag pattern... it is in range of penny stock in term of market cap.
It was suggested by DNB Bank. So, I got it on IPO and keep it up to now. Bu I will sell after second bull flag and rebuy it...
Forming a triangles pattern and might be blow out to 720 from current 580 and it might recover to before pandemic.
Also, according to pair trading in fish industry, It is cheaper than LSG and MOWI by comparing OSL:BAKKA/OSL:LSG, OSL:BAKKA/OSL:OSBFX, OSL:BAKKA/OSL:MOWI
Forming Symmetrical Triangle: let see... Q3 on 5th November will be released too.
it might inevitably breach the upper trendline for a breakout and uptrend on rising or alternatively breach the lower trendline for a breakdown and downtrend with falling prices... Let's see :)