At this point with the evidence in hand I would be a seller for the simple reason that the uptrend has reversed at least for the time being and preservation of capital is not an option, it is required.
There is support at $23.50 but at this point there isn’t enough evidence to suggest a buy.
From the information available at this time it would be best to wait for the release of Q4 results to ascertain if HSE has the strength to break above resistance.
With the bottom in, the resolution of the debt issues that were casting a pall on the shares, the emergence of a new uptrend, and takeovers in the sector, PBN is a buy.
Currently I would look for a bounce off of $22.00 and some buying to come into the shares during the period of seasonal strength for energy shares.
With energy stocks entering a period of seasonal strength that will run until May it’s a good time to make a move if you are so inclined
There does seem to be some support at $7.75 but I would want to see the selling abate before I stepped up to the plate.
