POG - something to watch...

There seems to be a downtrending channel in play + an RSI divergence.

I have marked the areas that could tip this stock to the upside, especially if the HL(X) is penetrated.
Any views? I am sure there are some old timers in this board who have been trading this for some time.

dl.dropbox.com/u/4385922/POG3112.png

I have gone long on this due to the MACD crossover and RSI divergance, as well as being at the bottom of the mini channel tha has formed. This appears well oversold and should (!) correct somewhat.

dl.dropbox.com/u/11107241/PETROPAVLOVSK%20PLC%20ORD%201P.gif

Good upside target with Point and Figure

I have a minimum target of 386 which is the target of the trading range break - but obviously prefer your P&F targets!

Sorry no chart but it looks to me like broke above the down trend line the other day and today has back tested the line. I think it could move up from here.

Comments welcome from the more experienced.

Tom aka MD

I entirely agree - so I am hanging on in there and have moved my stop up to above B/E to be safe. Want to target the top of the channel that was in play through the last 6 months of last year, which is around 440 at the moment - I won't set a limit and will watch to see if it breaks through - more of a swing (almost investment) play than a true trade.

I just feel this one is well oversold for the last 18 months or so.