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by Koos van der Merwe
With the price of oil going up as the market slowly moves into the recession, oil companies are the obvious choice as investment/speculative vehicles.
Position: Buy
Koos van der Merwe
Has been a technical analyst since 1969, and has worked as a futures and options trader with First Financial Futures in Johannesburg, South Africa.
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Antrim Energy
04/11/08 09:46:08 AMby Koos van der Merwe
With the price of oil going up as the market slowly moves into the recession, oil companies are the obvious choice as investment/speculative vehicles.
Position: Buy
| Antrim Energy is an oil and gas exploration and production company. Its operations are centered in Argentina, but its high-impact oil and gas exploration is focused in the United Kingdom. The company is currently drilling in the Fyne Field in the UK North Sea. On April 8, the company reported that drilling operations were successfully completed. Conclusive results are still forthcoming. |
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| FIGURE 1: ANTRIM ENERGY. This chart shows buy signals being given. |
| Graphic provided by: MetaStock. |
| |
| Figure 1 shows the following indicators. 1. Fisher MACD of the high. This indicator has given a buy signal. 2. Rapid RSI modified. This indicator has turned upward, suggesting a buy. It has however not fallen below its 32 level, which I would have preferred before a buy signal were given. 3. Stochastic RSI cycle indicator. This indicator has given a buy signal. 4. Volume. Volume has increased as the price rose. This is a sign of strength |
| In a bear market, such as the one we are experiencing, market participants always look for good bargains to buy and hold for the long term. With the price of oil being as high as it is and likely to remain high as long as the United States remains in a recession, Antrim Energy could be a stock to play as soon as the oil price starts weakening or the indicators give a sell signal. When this happens, it may be best for the investor to take profits and say "Thank you." |
Has been a technical analyst since 1969, and has worked as a futures and options trader with First Financial Futures in Johannesburg, South Africa.
| Address: | 3256 West 24th Ave |
| Vancouver, BC | |
| Phone # for sales: | 6042634214 |
| E-mail address: | petroosp@gmail.com |
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Date: 04/11/08Rank: 2Comment:
Date: 04/26/08Rank: 5Comment:
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