PEC reversal is imminent PEC reversal is imminent, PEC has endure a very painful selloff but all that is about to change
On the last few weeks after some bad news on a dramatic selloff, some savvy investors were accumulating the stock buying it from panicked retail investors dumping the stock at the bid and with the tax loss season on full force the stock went down to oversold levels.
Now, tax loss season is over and bottom fishing investors are buying, existing shareholders will be averaging down, and soon will see the shorts start covering, meanwhile company insiders have been buying all along
T/A is indicating that short down trend is about to be broken and some ema are going to be crossing very soon indicating a buying signal. ( This are the same signals I got from ROZ before it's break out check my post on ROZ and the dates )
And as we are getting news on either a JV or an update of the seismic and geophysical analysis to determine an optimum location to spud the next Presalt well. The strength of the break out could very well be rather violent
And again remember a takeover is a possibility
Always do your dd
SB