could be it..., page-8

"I find some of the charting hilarious. You also would be better off writing to Santa to see what he thinks."


I tend to disagree.

Charts will tell you with more accuracy where its heading in a downtrend - where it finds support, and in an uptrend where it will find resistance. It will also form the basis of judging where it will bounce and begin a reversal.

Even with the current market conditions of high volatility and people selling from fear, most good stocks will still respect their support levels - generally supports that were formed months in advance preceeding the previous few months bull run.

Regarding OEL - The chart has predicted the support of 0.26, which was created back in august, so that in itself is foresight for all that managed to pick it. Next is around 22/23c.

Im not suggesting OEL wont drop further in more serious shakeouts, it very well could, but that being said I cant see it falling too much more. IMO id expect it to come back and rest on the 200 day EMA in the next few weeks.

The technical aside, fundamentals will drive this company and give it the support it needs. All this short term movement is irrelevant in the biggger picture of things.

Will be a big year for OEL!