OIL and GAS sector broke the Symmetrical Triangle

Oil and Gas Sector is on the bullish run

Obersevation
1) Trendline - Short Term Uptrend (Bullish)
2) HH - Broke the previous higher high (Bullish)
3) Pattern - Broke upwards from the symmetrical triangle ( Bullish)
4) MACD - Signal Kissing and awaiting for crossover for bullish attack
5) RSI - Now at 69% and breaking above 70% it will be bullish attack
6) ADX - Average Momentum with bullish

Conclusion
This Sector will continue to bullish as long it remain above the support
Support at 56.74
Resistance at 58.65

Ranking
1) Dialog - Top Leader King of O/G
2) KNM
3) MHB
4) SAPCRES
5) PETRA - Laggards
6) KENCANA - Laggard
7) ALAM  - Crash of course.. ( BEWARE!!)


Let look at at this counter KENCANA, PETRA and SAPCRES

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

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Observation
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)

Conclusion
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.






Ranking
1) Dialog
2) KNM
3) SAPCRES
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)

http://edwinextremebullrun.blogspot.com/search/label/FORUM

Oil and Gas Sector Rebound at 53.91

In my previous posting, this was my observation

If downward continuation -  Better take some profit and wait for reversal at S1 - 53.91 and S2 - 52.24


Current graph on 28 Jan

Observation
1) Trendline - Broke the temporary Downtrend line ( Slight Bullish)
2) HH -  Rebound on the previous higher low at 53.91 and going up. If break above 58.65 it will be confirm bullish for safety investor and for risk taker ( Trader) it will be good to collect now and take profit when this overall sector hits the resistance at 58.65
3) MACD - Blue line start to going up and have a 4R1G signal to indicate a slight bullish
4) RSI - Testing the 50% and a rebound from here will indicate a slight bullish
5) ADX - Momentum still good and with bullish signal


Conclusion
Safe Investor
Entry Price -  above 58.65
Stop Loss - below 53.86
Take Profit - 59.97



Risk Taker (Trader)
Entry Price - above 56.68
Stop Loss -  below 53.86
Take Profit - 58.65 (R1) and 59.97 (R2)

OIL and GAS sector performance review

Let looks into the peformance chart of selected potential Oil and Gas counter

Leaders
1) Dialog - Top Dog with ETP project - retracing
2) Kencana - retracing -- What the heck?? my Kencana-cd going down the drain... arghh..
3) Sapcres - Retracing
4) Petra - Retracing
5) Dayang - Retracing

Laggards
1) PetDag- Tortoise counter no comment
2) Alam - Uptrend -- Interesting counter to look on it since this is a laggard counter so high chances investor will change their focus towards this counter and bull this. Need to write my observation on this ALAM this weekend. Stay tune..

OIL and GAS struggling?

Last week we saw Oil/ Gas sector was going up aggressively but now overall Oil and Gas Counter were struggling at the uptrend line.

Observation
1) Trendline  - Broke the uptrend line yesterday and retrace downwards but supported strongly by the 20 Moving Average. There could be chances that on Monday this sector will pull back above the trend line so it is important to monitor on Monday before profit taking or accumulate
2) HH - Still above the previous higher low
3) MACD - Blue signal cut below the Red Signal indicating a starting of downtrend and if as mention above that on Monday if there is a reversal to pull back above the trend line it will indicate a 4R1G signal ( Accumulation time)
4) RSI - Retracing towards 70% and need to wait for Monday for confirmation.
  - If this sector close above the uptrend line with strong reversal - Able to see a rebound at 70%
  - If this sector still continue to go downwards, RSI will penetrate the 70% to indicate further downtrend
5) ADX - Momentum is still high but showing bearish signal

Conclusion
Wait for Monday Confirmation before profit taking or accumulate.
If rebound above the Uptrend line - New Bull Phase (accumulate)
If downward continuation -  Better take some profit and wait for reversal at S1 - 53.91 and S2 - 52.24

OIL and GAS

Oil and Gas Sector Update

1) Uptrend- Still obeying the uptrend line
2) HH - Formed Higher High and retracing. Note need to ensure it does not break the support line at 53.91 if not Higher low will not able to be formed and this will reflect a downtrend
3) Macd- Positive
4) RSI - Overbought and potential to see a slight retracement
5) ADX - at 50% which is very strong momentum

OIL and GAS

2010 Hot Sector :) and so it is this year too. Will Oil break $100 resistance this month and go up higher and higher and break the historical resistance.. Maybe

http://www.theedgemalaysia.com/business-news/179880-opec-may-hike-oil-output-if-price-hit-110-official.html
 

Some countries are trying to push the price to $110 WOW!!


Lets have a look into the Oil and Gas Index Sector

Well all indicator are thumbs up and let see what counter is laggard by check the performance chart below

Wow
Saag - Suddenly became the first leading O/G counter - Leading
Ramunia - With the news of getting a new core business Borcos Shipping  -  Leading
Sapcres - Leading
Petra  - Leading
PetDag - Laggard
Perisai - Laggard
Waseong - Laggard
TGSOFF - Laggard