LONGTERM BULLISH (NEXT RESISTANT)Might take weeks and few month to hit resistant. Good time to buy and don't be greedy.
PETRONM trade ideas
PETRONM Breakout 52WEEK HIGHPETRONM breakout daily Resistance 7.320 with marubozu green candle and gap up.
Possible to continue on bullish run
PETRONM also breakout weekly and monthly resistance.
next resistance 7.620
chart looks in uptrend channel
18% retracement on daily chart before bullish run.
last candle close 52w high.
FEBRUARY WEEK 3, PETRONMas long uptrend line provide good support
it is safe to entry after ma 200 break at weekly timeframe
decision: wait
PETRONMseems to start a new wave for uptrend
already break out major DTL
the market structure remains making HH HL
find ur best entry
trade with knowledge
hepi trading gais
PETRONMEntry Point support at 4.64
Profit Target 5.12
Stop Loss 4.525
#JerungDetector #DeepagiScreener #TAYOR
CHEAT SETUP PETRONMIncreasing YOY significantly.Just break out from pivot point of cheat setup.Shows some potential :)
PETRONM STOCK Fundi Bias :
this is oil bro... Basic Important Demand..
Greed when others Fear..
we are no were of yet developing electronic car in Fully Domestic usage..
high cost in merging electric vehicle..
Tech Bias :
1)Support W1 price (diskaun price)
2) New High of W1 price
M.M Bias :
1)dont put all money in 1basket
PETRONM VCP SETUPEnergy sector looking good as the Brent and Crude Oil price continue to going up.
In term of individual chart, PETRONM seem to have VCP SETUP that already developed C1, C2 and C3 for 71 days.
Looking good as low risk entry point spotted. <6% Risk.
Also match with Elliot Wave Theory - Wave 3!!!
Disclaimer:
The content provided is my personal experience sharing through technical and fundamental analysis point of view. The content can only be used for education purposes and NOT any recommendation for buying or selling stock. Please ask your remiser/dealer for making decision. Trade at Your Own Risk.
Petronm (15min) - Updated ForecastPlease like and share if you agree with the analysis.
Hopefully it will be beneficial to any of you guys.
PETRONM - Complete Cycle Fibo / Double Bottom?PETRONM continues to decline and broke fibo level 2.618 which means it will continue to decline to complete the fibo cycle at 4.23.
If this scenario is correct, we will likely see a potential buying opportunity after the formation of double bottom along with the trendline retest.
First selling point would be at 2.618 fibo or by plotting fibo retracement at 50 or 61.8.
KLSE: #PETRONM #3042 Triple Bottom? www.quora.com .......Jitendra Prasad, M.Tech. Petroleum Engineering & Oil and Gas Industry, Indian Institute of Technology , Dhanbad (1991)
Answered Jun 22, 2017
Normally, profitability in upstream and downstream (Refining) sector are inverse.If crude oil prices are higher , oil companies will earn more profit and profitability of refineries will dip. Whereas opposite will happen if crude oil prices are low
petron malaysia - TA using GannPetronm has been goind uptrend recently.
i assume price will go max on the box upward which will touch rm9.26 on 23/10.
or price will retrace upto 50% of current box. before it goes up again.
