Renegade Petroleum Ltd. has breached its uptrend line
I like the story as well but until the charts are as attractive as the fundamentals it would be prudent to be cautious.
I like the story as well but until the charts are as attractive as the fundamentals it would be prudent to be cautious.
At this particular point I don’t see an immediate breakdown in the uptrend.
If PKI moves through $14.00 there is not much to hold it back from $17.00
With the extreme need for camp and catering services in and around the oil sands and the anticipated further growth in the sector this one looks like the type of stock you want to own.
For the conservative investor LEG needs to establish a sustained uptrend.
Given that the trend is down with no indication of a reversal I would say it is a sell with the intention of getting back in on a pull back.
I expect a pull back from these levels and need more convincing that the company is back on a growth track.