RH PetroGas - upside to continue..

It has been awhile since my last post. Market has been quite quiet for the past week, not much movement on most of the charts except a few penny stock which is heavy speculated. Although global outlook for economy seem to be good at the moment but investor confidence is not quite there yet.

During this quiet week, I notice that RH PetroGas has been slowly continuing its uptrend, though movement are narrow and moderate its price is still slowly creeping up.

From the chart, price has been moving in a narrow uptrend channel. Recent consolidation at 0.605/0.610 provides another good entry point for those who has missed the initial breakout (link here), this is further supported by the lower uptrend channel line. Stochastic is moving closer to its signal line, a cross over will signal further confirmation of continuation for upside. Tight cut loss to be set @ 0.585 (5% loss)

Remember to share it you have profited. Cheers!

Good Chart for Sharing

This chart shows the gain vs loss percentage. Think this is specially useful if you are doing short to mid term trading.

The charts show how much % gain you need to achieve for in order to break even with the amount of % loss. Example: for every 10% loss today, you will need to gain 11.11% tomorrow in order to break even.

This will help you to determine your stop loss price and target profit margin. For me, I uses a stop loss of 10-15%(highlighted below).

RH PetroGas - post first talk later

post first talk later.

EDITED ON: 9 Jan 2014

Understand that this analysis came late, but better late than never. At current point of writing, the break out has already happen. For those less risk adverse, you might want to wait for further confirmation and wait for good entry position (check back here, i will post when it happens ;). The analysis, as see from above, another ascending triangle formed from mid Nov'13. there is strong consolidation towards the end of Dec'13. The recent low in stochastic provide good entry position, and stochastic cross-over provided further confirmation of strength. MACD cross over from the center-line shows a bullish crossover, confirmed that uptrend is intact. Centerline crossovers can last a few days or a few months. It all depends on the strength of the trend. The MACD will remain positive as long as there is a sustained uptrend.

Good luck for those that have entered. Near-term TP is $0.70.