Ring Energy stock price broke through upper channel resistance line on a decent volume. Target short term opportunity price is $3.56 ( the width of the channel at the break point - very classical pattern) which also coincide with 50% Fab level AMEX:REI
7 out of 5 star pivot point setup.
I should have entered this on Friday but I missed it. Its a 5 star setup. Put your stop super tight and generate r for yourself
With the energy sector booming i`ve drawn a continuation candle pattern to what i consider to be REI`s price target, the $4.11 resistance.
Looking forward to read your opinion about it.
First time doing this so give me a break - XLE sector breaking out so I focused on a sector sympathy play - leap calls might be a great idea. Shares are more manageable
AMEX:REI is flagging nicely after it broke out of the head and shoulders pattern. Long the breakout, anticipated price action and targets are shown on the chart stop daily close below 3.6$.
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This is only my own view and not financial advice, do your own analysis before buying or selling
Happy Trading!
REI formed a big double bottom and it also kind of formed an inverted head and shoulders pattern as well. It broke the neckline and is currently testing the second resistance line at $4.01. I think it may pull back to support around $3.30 before it moves up again. My alert is set for $4.20. Add to your watchlist and monitor the price action. I think in the long...
Little update on my previous REI chart.
Increased the target by 2%
Ascending Triangle (80%). Not confirmed. Must break through 3.35$ resistance first.
If confirmed:
Price target = 6.11$
Stay humble, have fun, make money!
Ring Energy, Inc., an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2020, the company's proved reserves consisted of approximately 76.5 million barrel of oil equivalent. It also had interests in 18,712 net developed acres and 6,650 net...
Ring Energy Provides Encouraging Update on Northwest Shelf Phase II Development Program
-- Successful 2021 Drilling Campaign Focused on Highest Rate-of-Return Inventory and Capitalizing on Higher Oil Price Environment --
THE WOODLANDS, Texas, June 16, 2021 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today provided an...
TA on REI. This ticker is primed for massive upwards price movement. This is based off just the TA alone, and nothing else. It's respecting MAs as support and resistance. It also just hit it's reversal in November '20, from a long multi-year downtrend. It recently rejected at a historical resistance point and curling up to retest again. RSI is showing bullish...
