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Speculative Buy Ruspetro : ONLY Above 30p Targets 50p

By Zak Mir | Saturday 20 April 2013

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

The basic charting message is never recommend a stock or market against the direction of the last gap. This lesson has been served up by such luminaries such as Centamin (CEY) and Ocado (OCDO) in the recent past, where going against their gaps higher would have led the shorts to a very sticky end. So why I am recommending Ruspetro (RPO) as a speculative buy against the direction of the unfilled February gap to the downside.

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