Thanks for that, Phaedrus. To tell the truth, I was quite surprised at the close correlation - if Macdunk's prediction comes true and oil hits $200 then that chart bodes well for the shareprice (we'll just forget about his other prediction!)
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Thanks for that, Phaedrus. To tell the truth, I was quite surprised at the close correlation - if Macdunk's prediction comes true and oil hits $200 then that chart bodes well for the shareprice (we'll just forget about his other prediction!)
another hurricane in the caribbean might spur on the oil price - just intime for the annual report.
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Well buy side is building, I haven't seen it at 600k for a while! Sell side just at a Million also lower than in recent times.
Price up 4c on decent volume so far today.
Wish I'd had the balls to pick up more at $1.41-42 but I'm already loaded up.
NZO is currently trading at $1.58. A Close of $1.56 or higher will have broken above a 46 day Moving average (fitted to the preceding uptrend) giving a Buy signal. There have been 4 previous Buy signals as per indicators featured on earlier charts. In order of triggering, they are :-
(1) Break of OBV confirmed trendline. Entry at $1.48
(2) New uptrend (end of downtrend) Entry at $1.50
(3) Break above previous resistance. Entry at $1.54
(4) Break above confirmed trendline. Entry at $1.54
(5) Break above Moving average. (?) Entry at $1.58.
http://h1.ripway.com/Phaedrus/NZO827.gif
last night I was sitting up in Bed watching the DOW open on Bloomberg, Boy it was quite amazing... In the space of an hour (or so?) Oil prices ran from $112 to over $120.00...
"New Zealand Oil and Gas and Coal and Condensate" is set for a very bright future...
One of the few stocks that I have on a long term hold, IE no selling just buying when it dips...
The benchmark for next year is two fifty per share...
:cool:
.^sc
Going great guns! Oil up, NZD down, Pike firming, result on friday, momentum shifting in the market depth. All looking good! My prediction $1.65-$1.70 by COB friday