Following up from previous BUY call made last week (see below email to clients).
RH Petrogas has indeed cleared above the 0.65 resistance level yesterday on closing and traded higher to a high of 0.67 today. More upside can be likely as long as 0.65 remains as new support. Target to 0.700 then 0.800. Resistance has been holding since Jan this year and finally cleared yesterday, let’s watch to see if supported well.
Stop loss at 0.635
Sent: Monday, March 24, 2014 9:51 AM
Subject: *************** Potential Upside: RH Petrogas. Share price 0.63. (Breakout above 0.65 possible, watch ! )
Subject: *************** Potential Upside: RH Petrogas. Share price 0.63. (Breakout above 0.65 possible, watch ! )
RH Petrogas has staged a strong rebound after breaking above the 0.55 temp resistance last week, currently likely to test the 0.65 resistance level in the next few days. This was the high set in Jan before it dipped which makes it a barrier to watch. Any upside breakout above this 0.65 level can see it head to 0.70 to 0.80 target. Monitor closely or this potential trade setup.
Stop loss at 0.62
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