Long term downtrend Breakout trade 88e eeenfWe revisit 88E once again and can we reach our previous 10x on investment once again? If we break our multiyear downtrend line again we could be looking to big breakout. initial targets we would be looking at would be around
tp 1 = 1.1
tp 2 = 2.5
tp 3 = 5
News is due in coming weeks and depending on results we could surpass our TP3 targets if 88E hits a new oil discovery.
88E
88E - Trade Plan88E is in a pull back phase. The current level is a decent support which is also a trendline support zone. If price action gets bullish at the current level, between $0.030 - $0.033, I may take a long position. If price fails at the current support and drops, then my 2nd Buy Zone is between $0.020 - $0.023 level. I may wait for bullish price action with confirmation to take a long position.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
88E - Is it ready for a Breakout?88E has managed to close above the long term Bearish Trendline with apparently much heavy volume. The bounce off the POC of Volume Profile, Bullish MACD and the breakout all indicate that the price is expected to continue to the upside. I am bullish 88E with my targets below:
TP1 - 0.015 (Potential gain 35%)
TP2 - 0.019(Potential gain 67%)
Stoploss - $0.007
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
$88E.AX do not hold any however it has very nice setup $88E$88E.AX do not hold any however it has very nice setup $88E
88 Energy Limited (88E, formerly Tangiers Petroleum Limited) is an oil and gas exploration company which has exploration permits located in Alaska, North America. The major focus of the company is on Icewine project in Alaska.