Sunday, November 8, 2009

Alert: Rock Energy Inc TSE:RE

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

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$

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.
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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