Now the resistance 40 is broken we have a strong support and can test the next resistance of pre covid value 43.6
In my opinion, the oil stocks may enter in euphoria and FP is maybe only at the beggning of a rallye for spring.
Reasons to buy:
+Oil price going up
+Vaccinations going up
+Bull flag (green)
+Good support line (orange)
+Best dividend payer in France
+Price has not fully recovered since march (yes i see this as a plus)
Reasons not to buy:
-MACD hasn't crossed yet
-Not yet oversold on daily
-OIL isn't that popular these days
I see 2 situations happening:
green: slowly...
In a short term analysis the position is short.
So if you sold at 37 you can rebuy at 34.
But be carefull the consolidation could go further so i advise to prepare several buys
We can see a strong resistance appear at 38 and was tested several times now.
So if this resistance is broken the signal will be a strong buy.
We also have a good support at 36.
Between 36 and 38 some trades can be made.
And if 36 support is broken, we may go to 34 wich is the december's resistance
And after 34 we have a resistance at under 32.
There is maybe a...
By Sun Storm Investment Research
A Profit & Solutions Strategy
Web: sunstorminvestment.tk
Disclaimer: I am not a financial advisor, so please do your own research before trading anything
I think with my humble opinion that this is a chance to buy BUT with caution and watching the market every 15 minute.
If you like the idea please support me with a like or comment to let us know what you think
Tnx
Zd
Total broke positively his figure, now we still try to reach the resistance (38.6).
If you did not take you profits in 2020 you have a second chance here in short term trades.
If we break the 38.6, we can hope again to reach 40 in the next months.
FP is carried by good new and the rotation for defensive values
Graphically, Total is going to test his next resistance a approx 34.68.
If the resistance is passed total can try again to test the psychological resistance of 40.
Some consolidation may occur but the market is buying until other news arrive.
