XEL

Elsgly - the trend seems to be up. However as pointed in this thread, there are many resistances that need to be broken first.
There seems to be many areas where the price will consolidate IMHO and we might just have seen another area around the 125 mark for now where this could consolidate a bit, purely judging by today's action.

However, as mentioned 138 could be a target for now and where it could yet consolidate.

There is a H&S pattern in play and also I am also keeping an eye for the rounded bottom (not to be confused with the rounded brazilian bottom pattern...) - see link below
stockcharts.com/school/doku.php?id=chart...erns:rounding_bottom

All the best

Hoping for a good day on reserve upgrade, where do people think this will end today? seems to be further away from. Oil (2015) will this keep the price down or will the investors come in now?

Xel has failed to break out of the downtrend on the RSI today. It will be interesting to see if it now finds its way to the rising trendline that is currently at 96.25. If it did this would probably coincide with the RSI dipping into oversold.
looking at the chart Xel has always bounced off the 30.

Anyone thinking of trading this?

Thoughts welcome

Hi twl2009
Im looking at going long on first attempt of 96 with a tight stop of about 5 points.
96 being the trend line and a horizontal support near by. This level is worth a trade on a first attempt basis.

Hi Remo I get this for trend line

skipper10 wrote: Hi Remo I get this for trend line

Hi skipper10
On that day prices did not go as low as the price on my chart 35.84 as i was watching this share on that day.I think that a lot of charting software has different prices for that day so i personally have not used the low on that day as an important level due to this fact.
when prices on a chart show massive moves on a day like this you have to be careful with using the data as may be incorrect.
Your price is different from my one and im certain that my one is wrong on this matter. Its all down to one trade that went through in the books on that day.
Your trend line is how i normally draw them but on this occassion i would not draw it using that low. Just due to the questionable day.