A few stock picks based on Chart TECHNICALS.....

[User]

I thought I start a new thread for interesting UK shares that have potential to move higher or lower in relation to its chart set-up.

I have started the thread with two buys: Burren Energy and Cairn Energy. You don't need to follow the picks but you can simply make up your own mind by looking at the charts posted.

Hopefully the thread will help newbies who are just starting up with their trading in terms of technical trading.

I'll post a few others when and if I see good opportunities develop.

I am confident in the two initial charts posted.

Good Luck

 

[ducati998]

user,

Burren Energy plc (BUR, 3394294)
Last 522.63 Intraday Chart



5d 1m 1y 3y 5y 10y
Change -7.87
% Change -1.48%
Volume NA
Day's High NA
Day's Low NA
Open NA
Previous Close 530.50
Bid 524.00 FYTD High 549.00
Ask 530.50 FYTD Low 443.00


Cairn Energy plc (CNE, 3239931)
Last 1,217.50 Intraday Chart



5d 1m 1y 3y 5y 10y
Change +2.50
% Change +0.21%
Volume NA
Day's High NA
Day's Low NA
Open NA
Previous Close 1,215.00
Bid 1,211.00 FYTD High 1,287.00
Ask 1,216.00 FYTD Low 1,027.00

cheers d998

 

[kriesau]

I thought I start a new thread for interesting UK shares that have potential to move higher or lower in relation to its chart set-up.

I have started the thread with two buys: Burren Energy and Cairn Energy. You don't need to follow the picks but you can simply make up your own mind by looking at the charts posted.

Hopefully the thread will help newbies who are just starting up with their trading in terms of technical trading.

I'll post a few others when and if I see good opportunities develop.

I am confident in the two initial charts posted.

Good Luck

Just found this thread.

Good call User - both up 3% in 2 days

Any thoughts/charts on Fayrewood ?

 

[User]

Downtrend support at 84.

It can't really afford to close below 108.5 otherwise 84 will be the target...If it closes below that level then its a good short....

 

[User]

Burren Energy and Cairn Energy looking good at the moment......

Strong Buys.....

Another Buy is a fairly new stock Falkland Oil and Gas....

This is a counter trend Buy.......i.e. The trend is down but we are looking for the stock to move higher....

Buy at around yesterdays close with three recommended stop loss areas:

Short term counter trend trade: You could have a tight stop loss at 2 points away.

Medium term trade: You could have stop loss 8.5 points away allowing more room for intra-day movement.

Longer term trade: You could place the stop loss 16 points away which would be more than sufficient.

A tighter stop is recommended if your trying to trade this stock for the counter trend but a longer term stop loss can be placed as I see this stock taking out it's yearly high as this is a great new stock that I have made great money from before.

 

[User]

Burren Energy and Cairn Energy doing well.... :arrowu:

 

[neil]

Great Idea for CFD trades

I thought I start a new thread for interesting UK shares that have potential to move higher or lower in relation to its chart set-up.

I have started the thread with two buys: Burren Energy and Cairn Energy. You don't need to follow the picks but you can simply make up your own mind by looking at the charts posted.

Hopefully the thread will help newbies who are just starting up with their trading in terms of technical trading.

I'll post a few others when and if I see good opportunities develop.

I am confident in the two initial charts posted.

Good Luck

Excellent idea. Could be useful for CFD trading UK shares. Keep posting.

 

[neil]

5 Minute chart

Maybe unusual to think of trading this intraday but here is a 5 minute chart.

 

[Bluewave]

Robbie Burns from http://www.frequenttrader.info/p2.html likes Burren also. Scroll to the bottom of the page to see his current portfolio and spread buys/sells.

 

[ducati998]

USER,

First off, congratulations on having the courage to post some live trades on the boards, a refreshing departure. ( along with WWATSON )

Of your two setups, do you feel that 1 has a higher "probability" than the other?
If yes, why or what would constitute this difference?

Would a different timeframe change or alter this in any material way?
( I notice the appearance of an intra-day chart.)

cheers d998

 

[User]

ducati998 both set-ups look good. Don't really favour one over the other but I have traded Burren Energy alot more then Cairn in the past....Sorry for the delayed reply.

Burren Energy and Cairn look great....

Burren Energy price at the next trading session after my post was 530 (31/05/05) close price.

Yesterday closed at 617.5

Cairn Energy price at the next trading session after my post was 1215 (31/05/05) close price.

Yesterday closed at 1353

Also those that looked at Falkland Oil and Gas. I mentioned buying it with three possible stop-losses. It was a counter trend trade. Those that thought a two point stop-loss was a little bit too tight and went for the medium or longer term stops. Well, great! Entry price was around 90 and yesterday it closed at 101.5.

Those that may have followed........congratulations.......

Those that didn't.....well, I'll post a few more share charts soon......

As I said before I post the charts and technical reasoning but you make up your own minds....

Good Luck

 

[ducati998]

USER,

Hey good calls, nice to see some technical swing trades on the boards, in real time.
cheers d998

 

[kriesau]

ducati998 both set-ups look good. Don't really favour one over the other but I have traded Burren Energy alot more then Cairn in the past....Sorry for the delayed reply.

Burren Energy and Cairn look great....

Burren Energy price at the next trading session after my post was 530 (31/05/05) close price.

Yesterday closed at 617.5

Cairn Energy price at the next trading session after my post was 1215 (31/05/05) close price.

Yesterday closed at 1353

Also those that looked at Falkland Oil and Gas. I mentioned buying it with three possible stop-losses. It was a counter trend trade. Those that thought a two point stop-loss was a little bit too tight and went for the medium or longer term stops. Well, great! Entry price was around 90 and yesterday it closed at 101.5.

Those that may have followed........congratulations.......

Those that didn't.....well, I'll post a few more share charts soon......

As I said before I post the charts and technical reasoning but you make up your own minds....

Good Luck

Good selections, good analysis, good calls and great results. Well done User.
Be interested to see some non oil companies.

I rarely spread trade stocks - got bitten a couple of times - so I'm monitoring your thread with great interest. What timeframes and contracts are you using ?

Thanks for your response on Fayrewood. It's a stock, where I already own shares, that has come down from £1.50 to around £1.10 recently. I already have a spread on this (Dec contract at 110 (slightly up at 114 at the moment) since this price level gives it a forward P/E for this year of just over 6 compared to the sector average of around 12 - 14. Established and very profitable IT business with solid fundamentals which needs more institutional shareholders to move the share price forward. Never really looked at the technicals, just the fundamentals. Will keep an eye on your 108 threshhold.

 

[ducati998]

USER

What's the latest story here, are they still open, closed, ?
Cheers d998

 

[User]

Well situation with Burren Energy. Price that could have been taken after my post was 530 or better. I have bought this stock many times in the past and this time around I picked it up at around 490 and 513. The price has moved to 670.

Thats 140 points from my post. Thats a great rise. Also we have moved higher 6 weeks higher on the trot. So the chances of a pull back are seeming likely soon. Depends on the time-frame you trade in terms of placing your stop loss. If someone did follow this trade then they may be content with the gain and may want to cash out. Choice is entirely yours......When stocks hit new highs it is extremely hard to make an estimation as to where the price may top.....A travelling stop loss is my normal method.....

Cairn Energy closed at 1215 in the next trading session after my post....
The price now is 1394 with hitting highs at around 1450 in this current up move....I still expect the stock to hit new highs. Will we hit them this time around or later? Not Sure. If your a long term player then wait till we hit new highs.....Stop Loss for this stock could be placed at around 1350. The weekly chart is looking solid.

Falkland Oil and Gas. Entry was around 88p. Price now is at 121.5. Higher prices should be seen. The highs should be taken out easily pretty soon.

Good luck.

Apologies for not posting any other chart set-ups......I have not had the time.....I use to trade any types of UK stocks but now I find myself not bothering as I just trade the indices on a bigger scale.....

My advice to newbies and others...

Daily charts have great opportunities but weekly charts sometimes have some solid opportunities. Please look at daily charts but always take a look at weekly charts especially when the daily charts show critical junctures because thats when the weekly charts make spotting the moves so easy.

 

[kriesau]

User - Whats your view on Sondex (SDX.L) which has just broken through its 200 and 50 SMA. Its a manufacturer and supplier of downhole technology to the gas and oil industry. This is a stock that I bought at 209 last year and sold at 245 in March. Its been back to 200 since then and is now moving up again, closing at 226 on Friday.

Oil and Gas exploration is a sexy sector at the moment and their year end figures to Feb 2005 were good. The shares have been stuck in the range of 200 - 250 for the past 12 months and if it can break through 250 it could move up above 300.

Be interested in a chartist view on this particularly after your Burren and Cairn projections worked out so well.

 

[User]

Sondex

I would like to Buy above 222 providing we can stay above this level on a weekly chart.

We have strong resistance at 238-240 circa. If we can take that level out and if we can close above it on a weekly chart then hitting all time highs is no problem....270-300 should then be easily reached.

I attached a weekly chart of Sondex to this post. We broke the overall upward trendline but came back above it with force but then halted at the resistance area......

Once we hit all time highs a trailing stop can be used as it can be hard to suggest the next levels....... Stop loss 205. If entry is 222 then we have a 7% stop loss with a intial target off 252.

Good Luck.

 

[kriesau]

Sondex

I would like to Buy above 222 providing we can stay above this level on a weekly chart.

We have strong resistance at 238-240 circa. If we can take that level out and if we can close above it on a weekly chart then hitting all time highs is no problem....270-300 should then be easily reached.

I attached a weekly chart of Sondex to this post. We broke the overall upward trendline but came back above it with force but then halted at the resistance area......

Once we hit all time highs a trailing stop can be used as it can be hard to suggest the next levels....... Stop loss 205. If entry is 222 then we have a 7% stop loss with a intial target off 252.

Good Luck.

Cheers

I'm looking to go long on a Dec contract but will watch for any further weakness first

 

[kriesau]

User - You're Burren and Cairn selections have done exceptionally well - congratulations.
Couple of other oil stocks that I have been looking at recently - Premier Oil (PMO) and Dragon Oil (DGO).
Do you have a chartist view on these two ?

 

[Naz]

I own Cairn and have been in Burren and regal petroleum.Just bought some Circle oil just as big volume came in.