TOO began a decline with the drop in oil commodity prices, but for reasons based mainly price-action and not business fundamentals. Current factors affecting the price of TOO include: decline in oil demand and a strengthening dollar. Conversely, the business fundamentals of TOO are based on long term contracts ...
The trend-lines and MACD divergence a bullish exit between now and January 20.
The previous MACD divergence from 10-27 to 12-11 indicates a slow reversal starting on 12-11.
The new MACD divergence from 12-08 to 1-13 indicates a new trend starting on 1-20.
Major News to consider:
- Iran sanctions lifting, ...
A price channel has developed over the last two weeks. A double top on Dec 10 indicated an uptrend that should end tomorrow with the completion of an elliot 1-5 bull impulse. Conversely, an ABC corrective pattern may occur just above the resistance level of 26.
Next, SE will drop towards 21$/share ...