AlistairBruce
Long

GENEL ENERGY - Great Potential

LSE:GENL   GENEL ENERGY PLC ORD 10P
Theres definitely something worth planning here.
BUY ZONE reasons for confluence - Rounding bottom patterm followed by recent new price highs, relatively significant trendline , good pivot zone with 100 round number, RSI over bought and EMA's starting to perform in the right order.
Plan of attack -
1. Wait for price to pull back into buy zone - around 100 (good confluence)
2. Move to candle stick charts for swing pattern or hammer entry signal
3. Trade to 140, expect some resistance as this is a previous historical high
4. Watch price action pull backs and then further momentum to break 140
Significant strength at breakout would beneficial for confidence of further continuation - good upside from there.
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