I didn't know about the sale of Borealis when I made that prediction.
If you know of any good charting sites for the Norwegian market please share. I'm happy with the tools that stockcharts.com provides, but they only cover US and Canadian equities.
Will admit that I was a bit premature with my anticipations for STO to correct. However, it has been outperforming STL.OL, which won't continue. Nor will it continue to stay out of phase with the rest of the petroleum market. Now if oil starts back up and pulls the stocks with it, then I'll have to change my opinion. I don't see that happening. The sector has started correcting, and I see all the telltale signs of that. I'll give that STO is not as likely to correct as dramatically as the rest of the oil stocks.
I am certainly willing to entertain being wrong here. Would prefer to give it a few more weeks to prove me wrong. End of quarter shenanigans make price very hard to read. Barring big volume coming in at the end of the day, today is shaping up as average or below. Needless to say, I'm less comfortable today than I was yesterday :(
Hey, don't feel bad about the STL.OL prediction for Friday - you had a 50-50 chance of being right. Instead a new high, but volume only average.
Lots of technical analysis on this board for STO, but wouldn't it be more meaningful to analyze STL.OL with the larger trading volumes? The ADRs never get too far out of line with the underlying shares unlike ADRs from some countries where it's harder for the arbs to do their thing.
Statoil ADRs really wowed the market today. Watch STL.OL tomorrow. Down due to the gas leak and weakening petroleum sector, and if STO doesn't follow on Thursday it will on Friday. End of quarter buying does not a trend make.