Premier - PMO

Premier Oil daily.
uk.advfn.com/p.php?pid=chartscreenshotsh.../HDo6VCt7VU90wdJBw4=

This is looking interesting imvho, and i like the look of the setup, looks like a nice bullish breakout about to take place.

Normally i would buy the breakout of the trendline at 57p currently, but in this instance with the 200 day ema line located a few pence above it makes sense to wait for break and close above this feature on a end of day closing basis currently at 61p....

Targets above 61p > 80p> 100p
stop below 52p.

On the flip failure of 52p calls for mid to low 40's imvho.

atb, wdik, dyor,
trendfriend

64.50 is the key number IMO. Horizontal resistance of last swing high, 200SMA on daily and 50SMA on weekly. Then 68.50 then 96 (again).

F4T

Hi F4T...

well you are absolutely right, this does have a lot of resistance in the 60's.
I bought some of these on the trendline break(couldn't resist), and added at 62p yesterday....so lets see how it goes...

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...Nyn+zjd3jmjgvxjmtu8=

I think the trendline and the 200 day ema line are the key here imvho...
I have put around the previous attempts to break that 200 day ema line, which it never convincingly managed to do....

With the t/line, 200 day, and whats looks to be a rsi breakout, should be enough for a momentum trigger to push on here, but its still early days......lets see.....
I think the 80's, should be a achievable target here

atb, wdik, dyor,
trendfriend

pmo - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...EYXVywCgn2oHlHXn8%3D

quick look here, also looking good for further upside.

Closed the week above the 200 day ema line for the first time in a quite a while, and broken above a triangle, so this should by all intents and purposes continue higher.
As long we do not get a close below the 200 day ema line.....

atb, wdik, dyor,
trendfriend

In at 45.50p lets hope its on a path to that 96p

Todays low of 63.25 @ 10.30am is neckline for Inv H&S. If this breaks....

Buy Target 59p, being:

Daily
61.8% fib of latest move
50SMA
Hourly
200SMA

F4T