After six attempts to break out the long term bearish trend line from 2007/2011, I see an actual opportunity for going long the next couple of years. The fundamentals of the company are promising and the future cycle of the commodities is the trigger.
I suppose that after consolidation de price would be go down to 0.1 or less, because the next step of the company, is an non brokered private offer of aditional 20.000.000 shares, more than double post consolidation total shares outstanding.
At this moment I see some technicals indicators tell us something up; first, the RSI got the trigger already, and otrher two almost done, MACD need more road, but the short term bearish channel maybe has been broken too.
Disconting the bad beguining for the colombian market caused for the present President of Colombia, I think in this moment de main company of the country, "Ecopetrol" $EC is supporting in the short term by tecnical and fundamental issues. Fundamental view is product of the great result of 2022 FY and its consecuen big dividend, around 30% at current price. By the...
The company production in Colombia go well and the capex for 2021 it is good too in that sense my view is bullish, but for short term the better technical formation is if closed the gap (9 nov/2020) and then supported at the 61,8 fibonacci retracement to retake way to the 4 CAD and beyond.
Key level 3,55 / 3,60
This is an view for the next 4 trading days; this idea takes into account the following aspects:
1. I am thinking that is possible a price/RSI divergence but minimum 90 pips.
2. If price will find support near of 76,4% Fibonacci retracement that has confluence with 1,2250 support area.
3. Finally, the idea needs that MACD decrease the negative pendent or happen...
Oil prices begin to lose strength upward, which added to the possible recovery of production in Canada and the termination of some problems in the East, will affect fall in prices so that the shoulder head shoulder pattern would accelerate clearly and quickly.
In this new version of graphic analysis, several factors that are supported by the fundamentals of the company, by direct effect of current oil prices and the average of the oil-price in the first quarter, as well:
1. Clarity of divergence between price and RSI, denoting a next correction.
2. In reference with Elliot waves, the magnitude of the price advance...
My point of view has 3 ideas:
1. Downward resistances 1 and 2 were broken, 3 in the view (all in red).
2. Previous two big falls were followed by 38,2 retracement in good shape (see the return in each case).
3. In this third big fall, before reach next 38,2 retracement, it will wait a congestion in the the 23,6% retracement area (around 5.40) near the last...
When I saw the chart I detected this abnormal monster bull flag is not fully meet the requirements of the experts but low oil prices could help him become a reality.
It is only a graphic view about this share, my thought is that this aircraft is in the base line of downward channel and any moment the machine can put a bit of power to regain height.
Look the latest recovery flight (blue box), since 16 December 2015 for about 25%, 135 days flight stabilizer.
¿How many feet can regain in this new flight to the roof of the...
Firts of all, bullish divergence price & RSI in daily chart and in other hand I see clearly breaking the downtrend line. My target is at less in six months.
With weekly RSI lowest record in thirteen years and the price touch in the 76% retracement (low october 2008 and high april 2011), the metal is ready to go up.
