I feel like, I didn't take into account a few things:
- There is EIA crude oil data today. (You can see the impact of this data. Evidently, all the oil-related stocks just went up due to lesser inventories. Oil price went up by $1.48, increasing by 3%. GTE went up by $0.19, 8.52%, ExxonMobile went up by 1.71%, Shell up by 2.52% etc, etc.)
- Market has accounted for FOMC decision making by staying up. Seems like they have already factored in Fed staying its decision until another opportune time to raise.
- Also, I didn't put a stop loss for yesterday's prediction, but is 1 resistance level above always.
Trade ideas 28th October 2015
KrisEnergy (SK3)
SK3 is an oil and gas exploration company generally based in Asia. The recent bullish data from EIA resulted in bullish price action for oil, and should help it tomorrow.
SK3 is an oil and gas exploration company generally based in Asia. The recent bullish data from EIA resulted in bullish price action for oil, and should help it tomorrow.
It seems like yesterday SK3 was a long-legged doji which indicates equal strength between buying and selling. Today ended with a bullish hammer. Buy at open $0.345 - $0.35 and close at $0.37/0.38. Stop loss would be $0.325. MACD shows that it is coming down, so that is 1 cause for concern here, but take note it is a lagging indicator.
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