A “buy” signal appears on Premier Oil

A “buy” signal has long appeared on Premier oil stock (LSE:PMO). The market rallied between November 2017 and January 2018, and then came down between January and April 2018. This month, price has assumed a strong bullish journey.

The market has gone above the EMA 21, and the Williams’ % Range period 20 is clearly in the overbought region. There is a strong bullish signal in the market.

PMO is supposed to continue its bullish journey for the next several months. There would be some transitory pullbacks in the market, which would be followed by the market reaching higher highs.

 

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