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China North Eastern Petroleum (NEP)

February 17th, 2011 · 1 Comment

Technically. Right in the middle of everything..

Some observations:

  • Not overbought nor oversold, RSI of 54
  • Downward trend still in tact, buying will feel more comfortable if that is broken
  • We think that that’s more likely to happen (because of fundamental reasons), but technically, there is little to suggest
  • There is a faint case for higher lows, the one in Feb 11 is higher than the previous one in Sept 10, so there is a case to be made for accumulating when the stock falls again
  • We’re also bang in the middle of many averages (20, 50, 200 day moving ones), not too much help from that either.

We have a feeling that accumulation will pay off, but it’s difficult to make a strong case for that. The best case is the fundamental one put out here

Tags: NEP

1 response so far ↓

  • 1 Anitra // Aug 2, 2011 at 2:11 pm

    Thanky Thanky for all this good ifnortamion!