RMP ENERGY INC T.RMP

Inverted Hammer July 2

[foolandhermoney]

Technical Analysis  on RMP from TD Waterhouse identifies an inverted Hammer on July 2nd.

Tells Me: The recent decline is approaching its bottom, as the balance between buyers and sellers evens out and there's an attempt (though failed) at higher prices. The Inverted Hammer appears during a downtrend with a long upper shadow reflecting an attempt a higher prices, and a small real body at the lower end of the range reflecting an evening out of the balance between buyers and sellers as the bears have lost some control. The price may have reached a bottom and ready to turn higher

[robt1234]

Thanks... Tells me that the manipulators are going to switch strategies when the update comes in with what is likely. They might try to get a peek or a wink soon as well. I think they can make loads of money jerking a stock like this around - I wonder if the regulators even care.

[foolandhermoney]

Unfortunately you can't read too much into the technicals, I find they are only accurate in about half the cases.   The reality is we need to brace ourselves as the anaylsts on TD are sitting at 3 Bullish and 8 Bearish with a target of $1.85-$2.00.  This could get worse before it gets better but I find it helpful to to take the focus off the current market value and put it on the

[PinnacleX]

This post has been removed in accordance with Community Policy

[robt1234]

Is this a 12 month target or like the TD analyst reported here who said it is near the bottom but could continue down to $2? That is a short term technical evaluation which can be explained in the absence of news, the removal from indexes, and funds as a result... We all know how momentum overshoots and I think that has been going on alongside the drop in oil even though the company projection is