ERF persevered through a rough week for energy stocks and confirmed buy signals. RSX crossed up on midline, PMO crossed up on PMO signal, and MACD maintained its trajectory. The JMA did cross down on the 10-day DWMA, but it crossed back up on Thursday so that signal returned to positive. I added the fib retracement on this update and want to point out a couple of things - (1) Friday closed just above the 0.236 fib level with a nice hammer candlestick and (2) notice how the top of the first gap and the bottom of the second gap line up almost perfectly with the 0.382 and 0.5 fib levels.
Since my last post, buying opportunities presented as low as 9.14; I secured some shares last week and will try to buy more below 9.85 on Monday. Current target exit is 11.37.
Since my last post, buying opportunities presented as low as 9.14; I secured some shares last week and will try to buy more below 9.85 on Monday. Current target exit is 11.37.