Sunday, December 7, 2014

OceanaGold Update

Waited to see if it would break the line of resistance at 2.60 after taking a good and quick run up to it; it didn't, falling fairly quick through the previous support line. Interesting to see how quickly the price broke down once dipping below is 50DMA.

I suspect it will bounce off support at 1.90, which is also the bottom of its bollinger and retest the 2.07 level.

Anyways, this trade didn't pan out, but I strongly believe in an upturn once it hits the next line of resistance. This stock is swinging quickly here between zones.

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