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Pengrowth Energy Corporation Message Board

  • twoblackcats88 twoblackcats88 Jul 11, 2013 11:54 AM Flag

    Triple Top at $5.20 ?


    Still Holding the Oct.2013 $5 Calls I sold .... PGH and the markets are Over Bought ~

    Sentiment: Sell

    This topic is deleted.
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    • Don't look now, but that guy you sold the $5 calls to is up over 300%...

    • How's that triple top working out for ya? Any other brilliant calls you want to make?

    • Not sure what chart you are studying but there is no triple top at the 5.20 level going on. A 1 year chart shows a double top at the 7.50 mark in mid august and then again in mid september after which PGH promptly pulled back sharply to the 4 dollar level. Since then it has poked it's head above the 5.50 mark and continues to trade sideways. PGH has closed above the 5.20 level 3 times in the last 3 months and is approaching that mark again. But a retest of the 5.20 price point means nothing with respect to good chart analysis. PGH has support at the 4.50 mark and resistance just above the 5.20 mark but that's strictly on a short term 3 month chart. Actually the most interesting finding is that the 50 and 200 day MAs are converging with the 50 getting ready to break above the 200 which is a bullish trend. Up until now the 200 has been completely dominant and holding the price down. It could break either way depending on company news or trade sideways for a very long time.

      Sentiment: Hold

    • Hey Buffet, Here's a tip: you want to sell the calls at the top and buy them back at the bottom... looks like you held them a week too long. Here's another tip, the more times a stock tests resistance, the weaker it becomes... hope those are covered calls :)

    • markets may be over bought, but commodity related stocks are not: RSI of ~58 is overbought?

    • the post and reply are about markets, not the company..

      my comment not intended to sound critical of the post..

      when trying to buy or sell this stock ---- it happens again and again that the "market maker (s)", or high frequency players --- leap the action, they pull back the price or jump the bid ..

      cannot say just now how many times I have had partial fills, and watched the price come back with many at my offer trades ----- while my order remains unfilled ..

      HO Hum is right,
      but this topic is still about market action and not the company ( it's changes or it's future).

    • After it peaks out at around $5.17, the speculators and manipulators will step back in to sell off and drive it down to $4.74. HoHum. The disappointment and heartbreak with PGH continues.

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