Monark,Thank you for the comments. By saying that the stock in...

Monark,

Thank you for the comments. By saying that the stock in the downtrend I meant the downtrend started at the beginning of November 2009. In reality if you look at the large picture then you will clearly see that the stock is in a strong downtrend started at the beginning of 2000. Even all recent high shadows in June-September touched this downtrend line. I do agree that the stock is in a "local" uptrend started at the beginning of this year. So strictly speaking (being a mathematician) it is better to say the period of time for which the stock behaviour is considered.

I do agree with the previous message point that the majority of oil stocks have been in a downtrend for the past 1.5 months due to a drop in the oil price.

irynka