Buy 0883.hk CNOOC LIMITED @ HK $18.1Buy CNOOC here due to the following technical and fundamental reasons:
Technical
-50% Retracement of the last move up
- Support at 50 Day moving average at about $18.00
Fundamental
- 2014 Forward PE ratio of 5.5
- Growth in South China sea fields.
- Recent China govt policy support of the stock m
