Fxen

[lemonjello]

FXEN looks interesting here. Check the weekly chart.

[New-born baby]

FXEN looks interesting here. Check the weekly chart.

Weekly chart is real pretty, and PnF likes it to double top at $12.75. Lots of potential here. Maybe FXEN will retest the $6 breakout price and I can get some there.

[lemonjello]

I'm wondering if there will even be a pull back at this point. It's sitting right below a weekly trend line that seems like it could lead to a good pop if it breaks.

Weekly chart is real pretty, and PnF likes it to double top at $12.75. Lots of potential here. Maybe FXEN will retest the $6 breakout price and I can get some there.

[New-born baby]

I'm wondering if there will even be a pull back at this point. It's sitting right below a weekly trend line that seems like it could lead to a good pop if it breaks.

Lemon,
That is always the question. Where to enter; where to enter; where to enter. There SHOULD be some pullback; how much is the question. Basically they all pullback sooner or later. I would target the $6.50 entry or forget it. I don't think I want to pay more than that.

[lemonjello]

breakout coming!

[peanuts]

breakout coming!

what's the catalyst? Honestly, I don't foresee a breakout, here. I must be missing something, Lemon. What are you looking at to make you believe a breakout is coming? What about the pullback that NBB indicated? I don't see that, yet... Thanks for the help.

[New-born baby]

what's the catalyst? Honestly, I don't foresee a breakout, here. I must be missing something, Lemon. What are you looking at to make you believe a breakout is coming? What about the pullback that NBB indicated? I don't see that, yet... Thanks for the help.

Yes, I'd still like to see that pullback to $6.50 to enter. Chart is still bullish, imho. But it did pullback to $6.68 this week, and that may be it. PnF likes it to $12.75, and it has just busted out of a cup formation. Look at the price by volume: very low overhead resistance, Peanuts. Just clear that 200 day to make all systems go.
http://img390.imageshack.us/img390/9373/chart1ab9.gif (http://imageshack.us)

[lemonjello]

I'm looking at the weekly downtrend line it's pushing against. I'm not sure what you mean by catalyst - fundamental / technical? It doesn't look like it wants to drop to me. Long base - pushing up. I'm just a junior chartman tho. :cramersmiley:

what's the catalyst? Honestly, I don't foresee a breakout, here. I must be missing something, Lemon. What are you looking at to make you believe a breakout is coming? What about the pullback that NBB indicated? I don't see that, yet... Thanks for the help.

[peanuts]

I'm looking at the weekly downtrend line it's pushing against. I'm not sure what you mean by catalyst - fundamental / technical? It doesn't look like it wants to drop to me. Long base - pushing up. I'm just a junior chartman tho. :cramersmiley:

usually, the strongest breakouts occur and continue to run due to some catalyst for the company- new products, new regulations, new world events, weather issues, related markets, new product pipelines, upgrading corp efficiency... those types of catalysts lift stock prices. I was wondering if you had a catalyst in mind for FXEN? I see other opportunities within this sector that don't seem to be as risky, but offer good returns... maybe not the 50%+ that FXEN suggests, but pretty good, nonetheless. Looking at the weekly, FXEN did have a nice crossover of the 50 wma and 20 ema... I like those crossovers, but I'm not forming a religion around the idea :)

[lemonjello]

These guys are developing oil fields in Poland - AFAIK they are acquiring new leases and any new strikes could be a catalyst.

usually, the strongest breakouts occur and continue to run due to some catalyst for the company- new products, new regulations, new world events, weather issues, related markets, new product pipelines, upgrading corp efficiency... those types of catalysts lift stock prices. I was wondering if you had a catalyst in mind for FXEN? I see other opportunities within this sector that don't seem to be as risky, but offer good returns... maybe not the 50%+ that FXEN suggests, but pretty good, nonetheless. Looking at the weekly, FXEN did have a nice crossover of the 50 wma and 20 ema... I like those crossovers, but I'm not forming a religion around the idea :)

[peanuts]

These guys are developing oil fields in Poland - AFAIK they are acquiring new leases and any new strikes could be a catalyst.

I have found that new strikes are already accounted for in the stock price... what means something is the amount of difference between reserves estimated and reserves proved. Based on the predictions per well, stock price is adjusted... when estimates are not met or production exceeds estimates, then stock price corrects to reflect the decrease or increase in revenue...

New wells are seldom a catalyst... look at DVN

[lemonjello]

I don't know about the new well part - do you must mean the elephant field they found with Chevron? - but DVN looks like it's going up.

I have found that new strikes are already accounted for in the stock price... what means something is the amount of difference between reserves estimated and reserves proved. Based on the predictions per well, stock price is adjusted... when estimates are not met or production exceeds estimates, then stock price corrects to reflect the decrease or increase in revenue...

New wells are seldom a catalyst... look at DVN