The OPEC news came in last evening which prompted many oil related stocks to start breaking out this morning. Click the link to see read the news.
When such a big news is released, the first oil stock to long is normally the blue chip which in this case is Keppel Corp. Keppel had been under serious accumulation for months but no one knows how long it's going to take or the accumulation is for real until it starts breaking out. Today the stock gap up and in the 5 minute chart, I am expecting some mini selling first before moving higher. I am looking to take a long position when that mini selling subside and fades away. Watching it.
Update 1/12/2016, 6:08pm
Keppel corp some mini selling in the 5 minute chart and continued to rise and closed at 5.89!
Ronald K - Market Psychologist - A Stock Market Opportunist