Thinking about a position for Monday
This is one of the stocks I was looking to buy on Monday, and I was wondering about you guys’ thoughts on this. I know it’s pretty messy, but basically what I see is that Jadestone Energy has been on a pretty good upward trend, and in the parallel lines, you can see it has reached the bottom and could possibly climb back up. Also, on the Fibonacci patterns, the chart has dipped back down to the .5 level, which should be the perfect price to buy at. Volume is at 1.2 mil, slightly below avg volume, and market cap is 175 mil, so nothing too crazy here. I was thinking a 4-1 risk/reward should work really well, but I wanted to hear all opinions.
PS: I’m not a qualified investment advisor, so do your own DD of you’re thinking about buying this stock.