$EQNR is breaking out of its base with a Pocket Pivot!
Notes:
* Very strong up trend on all time frames
* Good earnings in the recent quarters
* Created a double bottom base for ~5 months and is now breaking out with higher than average volume
* Not much else to say... it's a great looking chart ;)
Technicals:
Sector: Energy - Oil & Gas Integrated
Relative Strength vs. Sector: 6.09
Relative Strength vs. SP500: 1.64
U/D Ratio: 1.17
Base Depth: 22.23%
Distance from breakout buy point: 0.44%
Volume 31.67% above its 15 day avg.
Trade Idea:
* You can get in now (at $38.44) as the price is just breaking out
* If you want a better entry you can look for one around the 37.7 area if it comes back down
* Right now it does seem to be gaping up so I wouldn't chase the price... Lets see how it behaves after the gap up and offers another entry
* This stock usually has local tops when the price closes around 15.28% above its 50 EMA
* Consider selling into strength if the price closes 15.08% to 15.48% (or higher) above its 50 EMA
* The last closing price is 7.64% away from its 50 EMA
* Very strong up trend on all time frames
* Good earnings in the recent quarters
* Created a double bottom base for ~5 months and is now breaking out with higher than average volume
* Not much else to say... it's a great looking chart ;)
Technicals:
Sector: Energy - Oil & Gas Integrated
Relative Strength vs. Sector: 6.09
Relative Strength vs. SP500: 1.64
U/D Ratio: 1.17
Base Depth: 22.23%
Distance from breakout buy point: 0.44%
Volume 31.67% above its 15 day avg.
Trade Idea:
* You can get in now (at $38.44) as the price is just breaking out
* If you want a better entry you can look for one around the 37.7 area if it comes back down
* Right now it does seem to be gaping up so I wouldn't chase the price... Lets see how it behaves after the gap up and offers another entry
* This stock usually has local tops when the price closes around 15.28% above its 50 EMA
* Consider selling into strength if the price closes 15.08% to 15.48% (or higher) above its 50 EMA
* The last closing price is 7.64% away from its 50 EMA