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Starting to trend up?

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Supa
Contributor
Bil's looking like it's starting to turn around. RSI and MACD also trending up? Any comments?
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10 REPLIES 10
Supa
Contributor
Not to mention the PE...
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saash
Super Contributor
And the breakout from the down-trend resistance line. Waiting for a higher close to confirm and watching that support continues to hold.
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BC02
Super Contributor
personnally wouldnt go close yet, theres a looming H&S still in play (or is it a double bottom?). The resource sector is currently very weak - against the ALSH.
If you're aggresive maybe climb in with a tight stop loss, otherwise play it safe wait for the break above the right shoulder (at R247). Just my opionion, if you take it good luck.
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BC02
Super Contributor
or the break below R 220 to go short.
This in between might be killer - emotionally speaking.
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surfer
Regular Contributor
I might be wrong but I tend to agree that BIL looks like it wants to move up
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superstar
Regular Contributor
It is so far the top (alsi 40) perfomer for the day
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Rams
Super Contributor
i dont trade BIL....if it goes below 220, i am a buyer for long term investment
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knopkop
Contributor
Read the comments of BCO2 and the thought occurred that responsible comments such as these make it worthwhile to check in on the Forum.Well done Chum. Methinks be careful..... none less than Min Gordham, in report yesterday, expressed concerns Europe situation.....that is not all done yet.Different rules, ofcourse, apply to short-term trading situations.......and maybe much stronger nerves than I have!!!!!!!
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knopkop
Contributor
Read the comments of BCO2 and the thought occurred that responsible comments such as these make it worthwhile to check in on the Forum.Well done Chum. Methinks be careful..... none less than Min Gordham, in report yesterday, expressed concerns Europe situation.....that is not all done yet.Different rules, ofcourse, apply to short-term trading situations.......and maybe much stronger nerves than I have!!!!!!!
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saash
Super Contributor
The RESI as a sector is looking oversold and yes there is risk, but I think more risk lies in trying to short a market that's already fallen 15%. RSI is starting to trend positive on the sector too.
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