Strat Petroleum Ltd (SPRL)

[TraderRich]

A little TA imo...

At price levels below a dime we can generally expect to find support/resistance about every .005.

Significant moving averages on the daily chart:

50 MA: .0144
21 EMA: .0201
10 MA: .0236
130 MA: .0278
200 MA: .045
260 EMA: .0517

Fibonacci retracements for the .01 - .0475 range are:

24% = .0387
38% = .0332
50% = .0288
62% = .0243
71% = .021

A pullback as far down as the 62% from here is still generally considered healthy for an uptrend.

Overhead resistance exists at the 200 MA and 260 EMA. Overhead congestion exists between .041 - .06.

For anyone looking to buy on pullbacks at this point, I'm watching the 130 MA and the 50 & 62% retracements on the daily chart. For those who watch intraday charts, I'd be watching .0355 - .033 currently on the 5 min chart and the 21 EMA, currently at .0334, on the 60 minute intraday chart.

Of significance on the weekly chart is that we are over the 30MA, currently at .0318.

All imo & fwiw.

Disclaimer: I am super long 700k SPRL and holding for dollars. I currently have no short term trading position

Aloha

Rich