Royal Dutch Shell is still in the bottom of its trading channel and looks like it has potential to rebound to its upper channel.
The catalyst to drive a rebound may be a lagged response to the recent rise in the price of crude oil.
Oil stocks have lagged the overall stock market badly in the past year and have been dragged down by the apparent overinvestment in commodity-related stocks.
Risk: 3 average trading ranges.
Reward: 3 average trading ranges.
Probability of a successful trade: 75% (just my opinion)
Define avg trading range: 11-days-average true range.
Cheers.
Tim 10:11AM EST Tuesday, July 9, 2013
The catalyst to drive a rebound may be a lagged response to the recent rise in the price of crude oil.
Oil stocks have lagged the overall stock market badly in the past year and have been dragged down by the apparent overinvestment in commodity-related stocks.
Risk: 3 average trading ranges.
Reward: 3 average trading ranges.
Probability of a successful trade: 75% (just my opinion)
Define avg trading range: 11-days-average true range.
Cheers.
Tim 10:11AM EST Tuesday, July 9, 2013
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