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Earnings Report Trade - Kreuz
1. Kreuz (Offshore services)
Kreuz had recently announced contract wins totally US$15.5 million in January resulting in a considerable surge in its share prices. Prices have already risen a whopping 100% since its 2 year low in May 2012. Traders have turned considerably bullish lately again on the nearing of its earnings report tomorrow 21 Feb 2013.
- Large white candlestick last week that has broken a 2 year major resistance line on some trading volume.
- MACD - is high in the positive with some wavering though.
- RSI (25w) - is recapturing 70% high since Oct 2012.
- Short term trade TP - $0.54 (11% from current levels) expected in 1-2 weeks. On the back of anticipated strong earnings, if reported tomorrow, will give the bulls more reason for higher prices. Of course, the risk here is ...
