/biz/ - Business & Finance

>>51349276
Athabasca is a much more interesting chart. Lots more to say about this one.

First of all we are at the 200 day moving average. This would normally present a great buying opportunity. That combined with the fact that we are at the lower bollinger band (a resistance zone) and RSI is oversold I would say this is probably a good strategic buy area (in my opinion, not financial advice). We're also about to come down to that blue trendline of support I sketched.

So basically on the daily chart there's a shit fuck ton of support zones coming up that could provide a really strong bottom. Athabasca makes money as long as oil is over $50 or so i believe so this could be a good time to take a posistion. It looks like this might be trading in a little bullish channel which I have sketched and also showed a measurement that there could be a 25% gain to be made here if the stock behaves in that channel. Given that there are three support zones tests on the bottom of this channel I would say this looks like a good buy and possible swing trade at this moment.

Coming up I will look at the weekly and a quick look at XLE to confirm.