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Saturday, February 12, 2011

Highlights of Oil and Gas Sector

Looking into the Oil and Gas Sector, after the Bull Rush from 2009 until now all commodities has went up pretty high but Oil and Gas Sector is still laggard .

By Comparision, Gold Commodities have raise about 300%  (above the historical high)while Crude Oil only manage to reach178% which shows that Crude Oil have more room to go up. Based on the calculation another 122% will comes to the figure 132~ 141( Historical) high. Imagine once the crude oil reach above USD 141, many of the O/G counter will go up pretty high. So think again should we accumulate the O/G counter now?

Let check on our Oil and Gas Index for KLSE

1) Trendline - Uptrend and forming Symmetrical Triangle. Above 56.6 ( Bullish) and if below 52.24 (Bearish)
2) HH - Formed Lower High ( Bearish)
3) MACD - Waiting for 4R1G( Probably by Thursday) and (Slightly Bearish)
4) RSI - Retracing to 41% ( Bearish) if break above 50% then it will be a rebound
5) ADX - Good Momentum and Bullish)

The symmetrical Triangle has formed and awaiting for this to rebound at the lower triangle at 53.88 and break above 56 to confirm Bull Run

Entry Price - 56
Stop Loss - 52.24
Profit - 58.66 (R1) and 59.8 (R2 - Fib Retracement )

Let Check on the Top O/G Counter Performance Versus the O/G index.

1) Dialog
2) KNM
4) MHB
5) PETRA            ( Laggard ----> Target)  36% from the Dialog Top
6) KENCANA    ( Laggard ----> Target)  38% from the Dialog Top
7) ALAM             ( Laggard ----> Target) 68% from the Dialog Top

Daily Buy Call in Forum..  (Do not forget to view here for daily Stock Picks)

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