STO should become a much better carry with its current rising trend channel to be exceeded with a POO about to overcome previous resistance on a 200 day EMA average. Its previous $4.74 looks like being beaten along with the current POO where the 14 day RSI is bullish IMHO.
STO is well suited for POO going through the $51s uptrend and taking out the $50s resistance as a great technical level.
With Presidents Xi and Trump meeting, their ability to agree on how to stop North Korea landing one on North America will undoubtedly impact on how POO will play out. Above $60 to the upside will mean STO could break new highs.
Well geared to a new move higher IMHO and well suited for a good risk return trade.
The momentum appears to be well positioned to permit further strength in the STO SP above $4.74 well off recent lows.
Newsflow appears compelling. POO next to U3O8, Au and Fe looks compelling and set to stand out.
The EIA Crude Oil Stocks Change later this afternoon could set the stage for signficant upside in STO.
One potential fallback globally could be a substantial Saudi Aramco IPO on the LSE or NASDAQ as happening between English Prime Minister Theresa May and King Salman's advisers but Presidents Xi, Trump and Kim Jong-un possibly gazump the Saudi Aramco impact.
STO should become a much better carry with its current rising...
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Last
$7.66 |
Change
-0.010(0.13%) |
Mkt cap ! $24.87B | |||
| Open | High | Low | Value | Volume |
| $7.72 | $7.73 | $7.66 | $51.80M | 6.770M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 125654 | $7.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.67 | 1506 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| STO (ASX) Chart |