This morning we are looking for ROYL ($6.80 at time of this writing) to go higher. It recently bounced off the 200 day and is right under the 50 day.
The MACD is turning positive:
Institutional buying is not in ROYL, but we are looking at ROYL only for a quick trade. It is above resistance though as seen on our PHILS X1 & X2:
Our DAILY chart is looking very good, note the "W" with the right side being higher signalling a possible support level for the morning:
Our 15 MINUTE chart seems to be in a range and we are looking for a breakout to the upside:
The WEEKLY chart is looking like it could be ready for turn in momemtum:
NOTE - The Stochastic is looking very good for ROYL:
$6.7 (08/20/08)
