60-Minute Chart shows Possible Double Bottom combined with a possible Exhaustion Gap. You can also see this on the Daily Price chart but, it's not as exciting because on the hourly chart you can also see that there was a very nice rally in the last hour of trading which was also the highest volume hour of the day.
In my opinion, that makes for a Very Probable rally on Monday and most of next week at least back to the Gap and possibly to retest most recent highs in the $0.88 to $0.90 area. This theory is supported by Oversold conditions on both the Daily and Weekly charts as well as the 60-Minute (hourly) chart. This is a great special situation trade because you can get in at a very good price with a very limited risk and the upside potential is very attractive. Will this be a major market bottom? Perhaps not, but, it sure makes for a good swing trade and perhaps it will prove to be more down the road. ENER - 60 min Candlesticks
In my opinion, that makes for a Very Probable rally on Monday and most of next week at least back to the Gap and possibly to retest most recent highs in the $0.88 to $0.90 area. This theory is supported by Oversold conditions on both the Daily and Weekly charts as well as the 60-Minute (hourly) chart. This is a great special situation trade because you can get in at a very good price with a very limited risk and the upside potential is very attractive. Will this be a major market bottom? Perhaps not, but, it sure makes for a good swing trade and perhaps it will prove to be more down the road. ENER - 60 min Candlesticks
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
