BYCO Byco petroleum Analysis 26 march 2013
BYCO Petroleum Caution
Our Preference: On Intraday basis start swing trading strategy to buy near 11.60 and sell 12.54 for mid and long term wait for 10.54 and 10.14 to initiate buying or must put your stop below 10.54 if you want to initiate your buying here.
Alternative Scenario: Penetration of 11.60 in downward direction will call for 10.54 and upward penetration of 12.54 will call for 13.61 and 14.39
NOTE: Take intraday long positions near 11.60 with strict stop loss of 11.60 but for mid term wait for closing either above 12.54 with profit target at 13.61 and 14.39 to take long entries or wait for closing below 11.60 for short entries towards 10.54 and 10.14. Investors with averaging strategy can initiate their buying with a strict stop loss of 10.14. Currently BYCO is under pressure and a strong resistant trend line is capping weekly candles at 12.54 MACD is indicating a short term reversal but a strong indicator Stochastic is still indicating bearish behavior in BYCO. 11.60 is also supported by 50% correction completion level.
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John Doe
June 29, 2014 - 11:23 Proin eget tortor risus. Cras ultricies ligula sed magna dictum porta. Pellentesque in ipsum id orci porta dapibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Diana Doe
June 29, 2014 - 11:23 Proin eget tortor risus. Cras ultricies ligula sed magna dictum porta. Pellentesque in ipsum id orci porta dapibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Melissa Doe
June 29, 2014 - 11:23 Proin eget tortor risus. Cras ultricies ligula sed magna dictum porta. Pellentesque in ipsum id orci porta dapibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Peter Doe
June 29, 2014 - 11:23 Proin eget tortor risus. Cras ultricies ligula sed magna dictum porta. Pellentesque in ipsum id orci porta dapibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit.LEAVE A COMMENT