Sunday, November 8, 2009

Alert: Rock Energy Inc TSE:RE


Chart is courtesy of marketclub.
Marketclub - Rock Energy Inc. Trend Analysis.

Position
You can take a long position on Rock Energy Inc TSE:RE

Rock Energy Announces Closing of a $15 Million Bought Deal Financing.You can read here what a bought deal is, and why it is important.

Current price: 3.5$

Chart
When we look at the weekly chart we see that a lot of indicators are positive
  • we have an increased volume
  • the RSI and the MACD is positive.
  • MA10 and MA30 are pointing up
  • prices are also trading above the MA200 and it is only slightly pointed down. On the daily chart it points up.
Resistance
If we go over the previous peak of  3.55$ then I see resistance around 4.5$ so a possible 28% profit if prices will go there again.

If we go almost to 4.5$ I would lock in some profit around 4.3$, or place a stop loss order around that price range.
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