I have been watching Imperial Oil for a while. Their
weekly chart is in a significant price compression and in the
shorter time frames - has broken the descending trendline
resistance, and retreated, only to bounce up and off resistance
again. Strong repelling forces this morning on the hourly and
shorter time frames.
Just wanted to put it out there and see what others think?
tahoe- can you
share your charts on IMO? either post a Stockchart.com URL,
or save your chart images as PNG and upload
Otherwise the daily chart is testing the 50 MA where it's trying
to find support, otherwise the stock is strong , but I don't
see much of a pattern here (though I will note that the Toronto
Exchange version looks slightly better than the US version) , but I
may be missing something, that's why I suggest that you share your
chart what you are looking at
Trade Idea - Long?
Posted by tahoe on 31st of Oct 2013 at 10:29 am
I have been watching Imperial Oil for a while. Their weekly chart is in a significant price compression and in the shorter time frames - has broken the descending trendline resistance, and retreated, only to bounce up and off resistance again. Strong repelling forces this morning on the hourly and shorter time frames.
Just wanted to put it out there and see what others think?
tahoe- can you share your charts
Posted by matt on 31st of Oct 2013 at 11:33 am
tahoe- can you share your charts on IMO? either post a Stockchart.com URL, or save your chart images as PNG and upload
Otherwise the daily chart is testing the 50 MA where it's trying to find support, otherwise the stock is strong , but I don't see much of a pattern here (though I will note that the Toronto Exchange version looks slightly better than the US version) , but I may be missing something, that's why I suggest that you share your chart what you are looking at
charts of IMO.TO
Posted by tahoe on 31st of Oct 2013 at 11:53 am
3min chart
Posted by tahoe on 31st of Oct 2013 at 01:27 pm
weakness is continuing ... for now