SNP in focus
Monday, October 15, 2007
China Petroleum (Sinopec) is again under pressure today after Citigroup upgrade stock to Buy from Sell. Stock had had a phenomenal a movement since August lows, gaining more than 70% in just some weeks, just amazing for a company like this. Looking at the daily chart, there is no much commentary to do, because chart is extremely Bullish with all indicators pushing in same direction up, however now extremely extended, so be careful due to the fact that RSI are extremely in Overbought conditions and a pull back will occur soon. Keep an eye on SNP.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: SNP
