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Registered User
Joined: 1/22/2007
Posts: 16
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Anyone have any suggestions on this stock?
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Registered User
Joined: 2/23/2006
Posts: 102
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I don't know much about Arch but follow energy closely. While I'm thrilled at the rally today and was well positioned for it, I'll be selling into it. Likely half today and half depending upon tomorrow's action. Some are acting with convicton but most are not. If you think oil will run higher, ABP and TMY seem to correlate and each have their own bottoms in place. I'm expecting the USO to start putting in the right half of its W as soon as everyone thinks the bottom is in. The stocks, however, won't need to follow down fully this time. VLO has its W and I expect it won't break 50 as OIL retests.
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Registered User
Joined: 1/22/2007
Posts: 16
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Thanks for your insights.
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Registered User
Joined: 3/25/2005
Posts: 864
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Based on the latest swing low established on 1/25 and the latest swing high established on 1/23, a target price of 33.13 can be established when using a Fibonacci expansion ratio of 2.618.
Daily S1 support is currently 29.26.
If we were to use this Daily S1 price as our entry price in determining the Reward To Risk of obtaining the target price of 33.13 (mentioned above) then we would get a Reward To Risk ratio of 3.87.
Monthly R1 Resistance is currently 33.14.
If we were to use this monthly R1 price as our target price (instead of using the price of 33.13 which was achieved via Fibonacci expansion) and if we were to continue to use Daily S1 as our entry price in determining the Reward To Risk of obtaining this target price of 33.13 then we would get a Reward To Risk ratio of 3.89.
In summary, 33.13 may be achievable short term.
Finally, fundamentally speaking, the company is somewhat stong when based on a scale of poor, fair, sound or strong. (IMO).
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Registered User
Joined: 1/22/2007
Posts: 16
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Thanks for your insights.
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