Massive trend continuation pattern ready to set off - RENI am accumulating and ready to add on a daily breakout.
REN
MNTR is getting ready to RumbleShowing strong weekly support. Looking for a run to at least $1.50 $AZN $ABT $GRUB $ODFL $ANH $GRPN $LECO $RAD $MAR $ETFC $AAPL $CQP $TVPT $ARCO $SWFT $REN
REN GOING FOR AN ENDING DIAGONAL?On previous chart i was looking for an head and shoulders pattern, and the head level is holding very well. Now i see a possible ending diagonal with a small potential for upside and good chance to break to the downside. Let's see the price action.
REN GOING FOR AN HEAD AND SHOULDERS PATTERN?REN seems topping in 1h and 4h chart. It seems building a perfect head and shoulders pattern. Look for a potential pullback for shorting opportunities. The breakout of previous top invalidates this setup.
$REN looking for a short into resistance tomorrowREN has been running for a long time ago, I made money today shorting into the resistance in the morning, so if this can gap up and shoot into the 19.50's level then I can short, tight stop though because if it keeps breaking up past 19.50's then it can easily run to 20's which I can enter for my second short.
$REN short into morning resistanceI'll be watching for a gap up and then a spike into whole or half dollar resistance, keep stops tight because it can blow through 18, but definietly a way over extended chart so looking for the pull back tomorrow morning
Short Resolute Energy(REN)REN has a horrible balance sheet with 547.13M total debt (mrq) and only 424k total cash(mrq). it should not be long before it falls.
REN REACHING A STRONG AREA TO BREAKREN is making strong impulses to the upside but it's reaching a very difficult area to break in a single move. I'm expecting a pullback before one more attempt to break the long term trendline.
$REN Short $REN I will be looking to short depending on Price action at the open. The stock is a previous runner where it managed to almost get to 9.00. However, following four days of solid volume with massive gains, the chart looks over extended and had fading volume.
I will look to enter on the open or possibly into the late afternoon to hold over the weekend depending on P.A. and level 2 data.
I am remaining conservative with my risk and will probably trade no more than 1000 shares with a risk of around 10 cents per share. If it drops of a cliffs edge then there is a potential 60% return.
Happy trading.
PACDPACD has been beat down here on lower oil prices. Its at 88.6% pullback when it hits $0.37. That could be a good entry. The RSI and %R are really oversold and last time we were here prices rebounded. I'd like to see the TSI start upward. This could be a 2x or 3x gain. BTW, PACD is financially sound with a positive net income.
REXXOkay, this is a risky trade because the company REXX is not real profitable. Negative net income. BUT if oil turns here, like I suspect it will, then REXX could be a double. I like the harmonic pattern with a 88.6% retrace. I could see a 50% bounce to the $1.47 level. RSI and %R is very oversold. Last time at these levels it went higher. TSI needs to turn higher.
HKHK is in the energy sector. I am not real bullish on the sector, but some stocks have sold down. Mostly the drillers. HK appears to be in the middle of a bull flag. A bull flag should move higher to test the upper channel again ($1.17), as indicated bu the GOLD bars on the chart. The best outcome would have oil move stronger higher allowing the AB part to be copied on the CD part of the chart. If that were to happen a target of $1.80 could be expected.
