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69.0¢ drillsearch energy limited

sharemarket movements has an effect on oil stocks as well. Even...

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g12m0

1,632 Posts.

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22/10/15

01:24

Post #: 16225884
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Originally posted by nordesmic ↑

Yeah I tend to buy early if I have confidence in the company. I feel like there has been a definite detachment between the stocks and the oil price for the last week and that means something to me. Plus there enough potential catalysts in the market for me to have a bit FOMO.

Strong moves up on volume followed by three days of consolidation on lower volume is often a good short term candlestick pattern. If the fifth day is a solid up bar again it classifies as a 'rising three methods' which is statistically in the top few patterns. Basically a fancy way of saying a flag pattern.

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sharemarket movements has an effect on oil stocks as well. Even if price of oil stays at a certain range.

DLS Price at posting: 64.0¢ Sentiment: Sell Disclosure: Held
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