TXN 0.00% 58.0¢ texon petroleum ltd

some quiet buying going on, page-4

  1. 2,863 Posts.
    Here's your chart Haans

    Weekly chart moving average turned up last week.
    Price crossed above the moving average a few weeks back & still there.
    Both are positves.

    MACD line heading north towards the centerline & positive momentum.

    Last week's low saw the price in the expected 50-61.8% Fibonacci retracement level of the recent 10-29c run.

    The ADX shows no sign of a trend & RSI is in a neutral position also.

    TXN looks to be in a bottoming Head & Shoulders reversal pattern. Tip of the right shoulder formed last week.

    A closing price > 27.5c, (30c to be safe), within the next 2 months should result in a target of 45c.

    Note the previous November high @ 50c, the next resistance level.

    IMO, DYOR
    Regards

 
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