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although CP dip today, i expect downside is limited and potential upswing is on the way. Some savvy investors has been loading quietly...
my guess will be the seasonal increase of petrol price for coming winter?
Hi Savvysamyeo,
Could you share, how do you determine your support level at 60/62?
Hi Savvysamyeo,
Could you share, how do you determine your support level at 60/62?
Spoegal., Thx. Points taken.
Hi savvysamyeo,
I think its downtrending because of 3 reasons -
(1) Acc/Dist is going downhill
(2) RSI is going downhill
(3) The price has recently cut below the lower Bollinger band indicating that it will likely continue south
A word of advice from TA perspective... bottom fishing is risky because how can you ever know that the stock has bottomed? Thats why I don't really care if its a bottom or top ... I just follow the trend.
I think its downtrending because of 3 reasons -
(1) Acc/Dist is going downhill
(2) RSI is going downhill
(3) The price has recently cut below the lower Bollinger band indicating that it will likely continue south
A word of advice from TA perspective... bottom fishing is risky because how can you ever know that the stock has bottomed? Thats why I don't really care if its a bottom or top ... I just follow the trend.
Hi, Sporegirl I am a novice but invested in C Pet based on perceived fundamentals. Mind enlightening me on why chart shows downtrend - to what level? I always believe in bottom fishing when poor emotions are exhausted. Rgds.
China Petro is on a downtrend now from TA charts.
Not an expert on TA , however C Pet is a good stock which has suffered from poor general sentiment. The O & G industry in China is still good for the long term domestically in China. Looking at the chart C Pet is sitting on a major support now at 60/62 level.
hi.. anyone knows what is the next support level ? any chart expert out there ?
the recent weakness is an opportunity to buy at lows...
the company is making money, industry is in demand in booming china and they had took a stake in a cambodia oil field.
i guess... the key is paitence and holding power. Those who trade on contra... sure disappointed.
as seen, some foreign banks has increased their stake in CP.
Thanks Nostradamus. I am still holding it, hopefully when oil price rebound, can recover some loss.
Thanks Nostradamus. I am still holding it, hopefully when oil price rebound, can recover some loss.
I guess it has to do with oil prices, which has fallen from around US$78 to less than US$70.
China petro has been doing well with more than 60 percent growth in profits. Since its annoncement 16 aug, its price has been dropping?
Can anyone comment? By TA, it should have rebound?