Today I added Double Eagle Petroleum (DBLE) to the Barchart Van Meerten Speculative portfolio solely on price momentum.
Barchart technical indicators:
- 80% Barchart short term technical buy signal
- Trend spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 16 new highs and up 53.03% in the last month
- Relative Strength Index 74.24% and rising
- Trades around 9.40 with a 50 day moving average of 7.67
Summary: Double Eagle Petroleum (DBLE) has always had volatile sales and earnings so it is a highly speculative holding. Nothing is sure on this one.
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