Hyperdynamics Corp (HDYNQ)

[Ben Carn]

Thanks Red, got the PM...lol

Well everyone, I gave you something to think about last Friday and well, here is something else to think about for this weekend. I have shown you all the daily chart so you can decide what to do for the short term. But now on to the weekly chart. Brace yourselves. This doesn't look good.

I cannot stress enough that the $5.00 support MUST HOLD! Just like on the daily, the $5.00 is the weekly support as well. Should we fall through that $5.00, then a very very light $4.00 support exists, followed by the 20MA at $3.54 support.

I sincerely hope we dont head that far down, but you just gotta keep your eyes open to everything!

The 27th is a big day for us here, but unless there is an actual PR to be released that day or the following week, then I really don't see how $5.00 will hold.


Here is the HDY WEEKLY chart. Study it! Love it or hate it, it is WHAT IT IS! You cant change it, you just have to learn how to trade with it to remain profitable!




So what to look for?

1) HDY news. If any HDY news comes out, then we will certainly move up. No news means go to 2

2) OIL NEWS and PRICE! Crude goes UP, we go up...CRUDE goes down or trades sideways, WE GO DOWN.

3) Chart will reflect the Crude movement. If there is no HDY news then watch CRUDE and WATCH the SUPPORTS!

Be smart about it!

See how the WEEKLY Crude and WEEKLY HDY move up and down relative to one another? The HDY trend follows Crude and right now, the OIL trend is sideways and slightly up(sideways since about mid Dec), but it seems as if HDY wants to trade down to meet the same level as CRUDE. WATCH this CLOSELY!