Every time XTEX has pulled back to this trendline and RSI bottoms out, it rallies 4-5% within a few days.
XTEX just brought on stream further gas pipeline capacity to Texas shale fields so the company is expanding in a rallying energy market.
April 7, 2011
XTEX Long at $16.40 - buying on pullback to trendline, target $17.50
Back into XTEX after sharp pullback. Technical reasons for this trade are that prices sold off back to the long term trendline on the graph, and that 7 day RSI dropped right down to 16 (bottom graph on the chart).
Every time XTEX has pulled back to this trendline and RSI bottoms out, it rallies 4-5% within a few days.
XTEX just brought on stream further gas pipeline capacity to Texas shale fields so the company is expanding in a rallying energy market.
Every time XTEX has pulled back to this trendline and RSI bottoms out, it rallies 4-5% within a few days.
XTEX just brought on stream further gas pipeline capacity to Texas shale fields so the company is expanding in a rallying energy market.
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