As oil rallied tonight... uzma should move higher to test its recent high of 2.62. Don't miss out this counter. Its a fundamentally good small cap counter with very small public float thus easy to be pushed up.
The train had already left the station. Congrats to those who got on board. Condolences to those who sold out..
Next resistance@2.60-2.65 will be overcome in due course. Next major resistance will be @3.24-3.30. Once this has been taken out, it will be fresh breezy air, lovely sunshine with clear blue skies ahead.
me think oil will die later when Iran surplus factored me. Me sold skp recently because me expect retraction later..me ask u all becareful..brent will never exceed 60 until end of year sayangs
There is no necessity to be unduly biased in one's take on expected oil price movement, holding onto a biased view and in the process making hasty decisions that one regrets eventually. Based on chart trend, WTI oil price had already penetrated upward the down trend line. This is the 4th time that WTI oil had challenged the USD 56/bbl resistance. The law of nature says that any resistance if challenged numerous times will also break.
Just focus on the price volume action n free oneself from any biased views.
WTI oil price had already penetrated upward the down trend line in early march 2015. It challenged the USD 56/bbl Resistance FOUR times without success but last night it just managed to penetrate upward the USD 56/bbl resistance and closed @USD 58/bbl. WTI Crude Oil had hit 2 higher Lows and one Higher High since it bottomed in mid march 2015.
This signify that the downtrend for WTI Crude Oil is over. Key question now is...Will WTI Crude Oil trend sideways with slight upside bias now or start trending upward from now onward with intermittent correction along the way up?
The Oil & Gas stocks had already crashed in BURSA since last year. Last night WTI Crude Oil hit a higher high of USD 58/bbl after FOUR attempts to penetrate the WTI Crude Oil resistance of USD 56/bbl.Prior to this, WTI Crude Oil price had hit TWO HIGHER LOWS since it bottomed.
This signify that downtrend for WTI Crude oil price is over and the worst is also over for Oil & Gas stocks in Malaysia. It is timely now to get on board the Oil & Gas train in BURSA as it is already in process to leave the train station...
its a good stock and I benefit from trading a couple times rdy..But be careful to think that oil has bottomed down. It may well go south again...Iran story not factored in yet..Fitch downgrade in June will rape everything down. I will buy back Uzma at 2-2.10. I have the patience to wait till June :)
Downtrend for WTI Crude oil price is already over. From now onward there will be higher highs and higher lows with intermittent corrections. It is timely now to get into Oil & Gas stocks in BURSA on any correction...
UZMA has surged above the EMA120 level with mild volumes yesterday. The MACD Histogram extended another green bar, while the RSI is hovering near 50. Monitor for a breakout above the RM2.52 level, targeting the RM3.00-RM3.15 levels. Support will be set around the RM2.19 level.
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PakcikKayo
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Posted by PakcikKayo > 2015-04-08 20:52 | Report Abuse
jgn itu mcm 30 sen...40 sen la..