Zak Mir / Sfu11 Oct 2015 12:41
http://*********************/views/15642/zak-mir-s-bull-call-of-the-day-no1-rame-energy-20p-plus-price-channel-target
"I am still trying to remember who mentioned / suggesting Rame Energy as a stock for me to look at earlier this week, just before the share price jumped. What can be seen is that if I had been a little faster off the mark I would have caught the latest rally which has broken the 200 day moving average now at 8.26p. However, it may be that fans of this situation get a second bite of the cherry in the wake of any pullback in the stock from extreme overbought levels in the RSI window at 97 /100.
At the same time it can be seen how the spike through 10p has all but cleared 2015 to date resistance, something which flags a sea change in the price action and hence the technical picture. As far as what may be the best way forward here for the rest of this month it should be the case that any dips towards the 200 day line are regarded as a buy opportunity, with only a weekly close back below it hinting that all we have been witnessing is a false dawn rally.
Considering what the potential upside may be while Rame Energy holds its 200 day moving average, we have not only summer 2014 resistance towards 20p, but also the top of a rising trend channel from last year at 22p, a destination which could be hit over the next 2-3 months."
------------------
Sfu - Marathon Man -brilliant ! look out for your 'just giving' details.
Amazing what a few Buys can do, well done ! However, as Zak says 'extremely overbought' at RSI 97 so look for a little pull-back first.