Tullow oil - TLW

Thinking loud.. where do I go long..

@ 206 which is 50MA or at 191 support... attached pic... mostly 191p I may go long.

That trend line break is only a short term trend line break.

dl.dropboxusercontent.com/u/4899609/far%20view%20tullow.png

theres 3 trend lines that can be drawn on this.
short term...break out and respecting it currently.
medium term...this is around 400 so long way from there.
long term.....this is around 900 so really far away from there.
so based on this you would use the short term trendline for trading as the others are way to far away.
This shows how far tullow has fallen...shocking ..
There is a 123 low forming on this share currently


dl.dropboxusercontent.com/u/4899609/tlw22ndoct2015.png

so look to go long above 268 and a target of the 200ema , but early entry would be done for me at a finish above 230 with stops below 210 if activated.

This is the correct short term trendline imho... and this did not brreak above it....
This could go to 120/130p area, tht would be the next place to go long..
The moving avearges are holding this up atm... if they break this should move down quickly imho..
This looks bearish imho..
uk.advfn.com/p.php?pid=chartscreenshotsh...D&symbol=FX%5EGBPUSD

Regards,
Trendfriend.

uk.advfn.com/p.php?pid=chartscreenshotsh...3zE=&symbol=L%5EGENL

This is speculative but i'm long here, as its just broken above the 20 day ema,(the chart is a bit delayed, but this has broken the 20 day ema) and retested it just now at 225p and it took out the 50 day this morning as well.
Volume is the important here, needs a big volume day to break that trendline imho....

My stop for now is at 200p, but i will move it to b/e on a bounce...

Regards,
Trendfriend.

Trendfriend,

Many thanks for all the charts on various stocks, i'm still learning, but it's much appreciated

Your message states ema (exponential moving average) but your chart appears to be using sma (simple moving averages). The gap between the 20 & 50 on the tullow chart below, looks bigger than what i have on my ema chart.

Perhaps you could confirm please?

See tullow chart with ema and sma.






Thanks

Hi Longterm, hope your keeping well.

Thanks for pointing that out to me, your correct, i use Simple moving Average(SMA), not EMA...
Will type it correctly in future, thanks for pointing that out...
I just closed this and banked for today, the trendline is at around 239/240p (dropping daily)...be back in if can break that level... happy to bank a small profit for now...

btw, we are all learning everyday...
Be lucky,
ATB
Trendfriend.