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OML

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Super Contributor
has support at 1380.I think it is worth going long here.
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8 REPLIES 8
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Roniqua
Contributor
i'm looking at the 13.45 mark.
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Super Contributor
Fair enough,but I'll eat my hat if it gets there.
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Roniqua
Contributor
lol. i'll be pissed off if I miss out on it and it goes up from here. Enjoy.
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jannie2
Contributor
Ros - why do you think it has support there, I am also thinking of getting some OML and would appreciate someone with some TA experince to shed some light here.
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Super Contributor
I just connected the lows from 5 march and 6 Oct this year and this gives the support line of its uptrend.The stochastic also shows it is oversold.That's really all I'm looking at.
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jannie2
Contributor
I see what you mean - the stochastic is in oversold- but can it not stay there for a while ? - I am a bit new to this - but looking at the Moving averages ( 7 and 25 ) on the daily prices - they have crossed for the first time since September - and that worries me a bit.
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Super Contributor
You are right.Don't follow my advice because I'm not an expert.I just go long when I like the probabilities.Stick to your plan-maybe you and Roniqua have it right.I just find that going long off support in a bull market when a share is oversold is generally low risk and the trend is in your favour.But there are a lot of sellers lined up so they don't agree with me!
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Not applicable
I honestly believe it has eased a bit this week and has been bouncing on the 1380 support line, I think we will see some upward movement to 1450 early next week and maybe even back to 1500 like last week.
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