Might take weeks and few month to hit resistant. Good time to buy and don't be greedy.
PETRONM breakout daily Resistance 7.320 with marubozu green candle and gap up. Possible to continue on bullish run PETRONM also breakout weekly and monthly resistance. next resistance 7.620 chart looks in uptrend channel 18% retracement on daily chart before bullish run. last candle close 52w high.
as long uptrend line provide good support it is safe to entry after ma 200 break at weekly timeframe decision: wait
Increasing YOY significantly.Just break out from pivot point of cheat setup.Shows some potential :)
Fundi Bias : this is oil bro... Basic Important Demand.. Greed when others Fear.. we are no were of yet developing electronic car in Fully Domestic usage.. high cost in merging electric vehicle.. Tech Bias : 1)Support W1 price (diskaun price) 2) New High of W1 price M.M Bias : 1)dont put all money in 1basket
Energy sector looking good as the Brent and Crude Oil price continue to going up. In term of individual chart, PETRONM seem to have VCP SETUP that already developed C1, C2 and C3 for 71 days. Looking good as low risk entry point spotted. <6% Risk. Also match with Elliot Wave Theory - Wave 3!!! Disclaimer: The content provided is my personal experience...
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PETRONM continues to decline and broke fibo level 2.618 which means it will continue to decline to complete the fibo cycle at 4.23. If this scenario is correct, we will likely see a potential buying opportunity after the formation of double bottom along with the trendline retest. First selling point would be at 2.618 fibo or by plotting fibo retracement at 50 or 61.8.
www.quora.com .......Jitendra Prasad, M.Tech. Petroleum Engineering & Oil and Gas Industry, Indian Institute of Technology , Dhanbad (1991) Answered Jun 22, 2017 Normally, profitability in upstream and downstream (Refining) sector are inverse.If crude oil prices are higher , oil companies will earn more profit and profitability of refineries will dip. Whereas...
Petronm has been goind uptrend recently. i assume price will go max on the box upward which will touch rm9.26 on 23/10. or price will retrace upto 50% of current box. before it goes up again.