Every so often, the stars align giving us fat pitch opportunities that we cannot afford to pass up. I am seeing such a setup in a name I have been long for some time, but has pulled back recently giving us a fresh, short term trade setup.
Enter $CRC, California Resource Corporation which is an oil and natural gas exploration and production company. Already up 63% on the year, I believe it has further upside in the cards due to a recent retracement. Let’s take a look…
The general RSI and MACD indicators have been a good guide when in confluence of bouncing from OS levels.
The most recent rally this year has nearly retraced 50% of the move, and a proprietary tool (Volatility Based Support And Resistance) I have written extensively about is showing an extremely skewed Risk/Reward Ratio to the upside.
I could write further but I want to get this out so you can add it to a watch list.
Time is of the essence, and I see this name higher in the weeks to come.
OC