Current Market Theme:
Favour oil & gas counters with solid order books for the current market recovery. Expect more new deals in the pipeline given the lifting outlook with emerging economies such as Latin America where oil exploration has always been key.
- Breakout in this week with high volume sending stock to a price of $1.31.
- MACD – positive divergence and trending into the positive
- RSI (25w) – crossed 50% and headed for 70%