Re: interesting thechnicals
I know this is not a popular opinion on this board, I'm just making a tough call on my own overweight stock position here. I don't argue with the fundamentals and I'm still bullish CEN. I'm just seeing a trading opportunity ahead and I've put my money where my mouth is. We will see how it plays out.
I've got a lot of experience reading chart technicals and market sentiment and I agree that it can often be pretty insane...it just is what it is. I really appreciate the contributions from the oil industry people here. I come from an engineering back ground and I find the geology and drilling technology really fascinating! I learn new stuff here every day! What I can contribute is market insight and technical analysis.
I don't want to offend anyone as I do understand the fundamentals of this stock and I am still holding a major long position, FWIW.
As for technical levels to watch over the next few weeks. Upper resistance today is going to be around 18.75-19.15. The 50 dma is at about 17.75. the 200 dma is at about $13. I see this stock consolidating between the 200 and the 50 over the next little while. I also see that as a buying opportunity. It's my call and contribution to the excellent information shared on this board so take it FWIW. We will see what really happens over the next few weeks.