STOCK IN FOCUS: PETROENERGY RESOURCES CORPORATION (PERC)

 

Figure 1. PERC Price Chart

Price and moving averages:

PERC has closed below its Short time moving average.
Short time moving average is currently above mid-time, andabove long time moving averages.
The relationship between price and moving averages is: neutral in short-term, and bullish in mid-long term.

Bollinger Bands:
PERC has closed above bottom band by 47.6%.
Bollinger Bands are 17.2% wider than normal.
The current width of the bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

Trend Direction:

PERC is still strongly trending upward with a negative momentum. This indicates that PERC is on consolidation right now.

Figure 2. Other Technical Indicators

RSI Indicator:

The RSI shows overbought (above 70) and oversold (below 30) areas.  The current value of the RSI is 52.52.  This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area.  The last signal was a sell 7 period(s) ago.

Stochastic Indicator:

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20).  The Stochastic Oscillator is 9.26.  This is an oversold reading.  However, a signal is not generated until the Oscillator crosses above 20  The last signal was a  buy 9 period(s) ago.

MACD Indicator:

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 5 period signal line.  The last signal was a sell 1 period(s) ago.

Figure 3. Support / Resistance Lines

Fibonacci Lines:

Support: 7.28

Resistance: 7.55

S/R Lines:

Support: 7.20

Resistance: 7.5

Recommendation:

This is a buy around the range 7.10 to 7.20 or until the stochastic triggers a buy signal.