$EQNR coming up on the right side of its base!Notes:
* Strong up trend since 2020 on all time frames
* Good earnings in the recent quarters
* Pays dividends
* Basing for the past ~5 months
* Showing signs of coming up as the Energy sector shows strength
* Came back above its 50 day line with higher than average volume
* Lots of accumulation recently
* Also printed a Pocket Pivot indicating institutional demand
Technicals:
Sector: Energy - Oil & Gas Integrated
Relative Strength vs. Sector: 11.83
Relative Strength vs. SP500: 1.85
U/D Ratio: 1.15
Base Depth: 22.21%
Distance from breakout buy point: -8.12%
Volume 1.69% above its 15 day avg.
Trade Idea:
* You can enter now as the price is coming back up above its 50 day line
* If you're looking for a better entry you can look for one around 34.50
* This stock usually has local tops when the price closes around 15.28% above its 50 EMA
* Consider selling into strength if the price closes 15.08% to 15.48% (or higher) above its 50 EMA
* The last closing price is 3.34% away from its 50 EMA
