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Linn Energy, LLC (LINE) Message Board

  • sandonthebeach47 sandonthebeach47 Jan 9, 2013 1:04 PM Flag

    More Charts

    LINE is about $2 off the recent bottom of $34.80.

    If you look at finviz the chart pattern is a wedge-down.

    I think it might go above the upper trendline and resume the longer term trend which is shown there as alonger term up-trend.

    stockTA has these support prices for LINE:

    supp 36.76 9
    supp 36.03 3
    supp 35.23 4

    The numbers right after eah price is the confluence...
    .....think of it as "certainty" about each price where the higher the number the more TA methods agree.

    Now,

    take a quick look at COG, which finviz indicates is in a wedge-up chart pattern but it is below the lower trendline.

    stockTA has these for support points for it:

    supp 47.03 8
    supp 45.84 10
    supp 44.59 2

    So it is off about $4 from the recent high of just over $51.

    One could be headed up & while it seems that the other might be going the other way....but for how long?

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    • I was pleased to see that, according to stockTA, the LINE resistance point with the most confluences (12) is 39.87, which reinforces my previous decision to target ~40 as the price to sell my long term calls at

      O/T TPLM is not hitting new lows on longer time frame, it has a pattern of higher lows since october 2010... The downtrending line connecting the highs over the past year (of 8.26 last feb and ~7.92 end of september) is one way to define upside; this is now at ~7.6, which strikes me as very bullish. The most recent high of ~6.4 defines a shorter term sell target/resistance point, and is the first resistance point listed at StockTA.

      the line connecting the recent TLPM lows of 11/15 and 12/27 defines short term support/bottom which now sits at 5.7; buying at 5.7 would have modest downside and high upside, thus a good risk/reward entry point

    • As you stated a few days ago. You feel as though TPLM could be a TOT. What price do you believe TPLM would be taken out for. Everytime i look at TPLM it hits new lows. It has bounced to over 6 today. So in your chart readings of this stock was that a bottom and where could it go from there?

 
LINE
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