Open Range Energy Corp. under selling pressure
At this point it would be best to wait for the downtrend to reverse before buying.
At this point it would be best to wait for the downtrend to reverse before buying.
With the 5.6% yield and the strong business case I would be a buyer until we see a change in direction
The lesson to take away from this case is that holding a stock in a steep decline is a bad plan.
At the moment I would not be a buyer until the MACD and RSI indicated a shift away from the selling pressure that has been hanging over the stock for five weeks.
What gives me the most concern at this point is that it appears a bearish descending triangle pattern has formed.
Good morning, I have owned Penn West since 1999. It is down to almost a third of the price it was at its peak in 2006. They have also decreased their dividend from 34 cents to 9 cents during that time. Do you think I should hang on awhile longer or sell and take [...]
If you were to be a buyer at these levels you would be swimming against a strong tide. I would say that patience would be the better part of valor.