Oiltek

$Oiltek(HQU.SG)On the daily chart, the stock price of Oiltek appears to be consolidating between 1.66-1.67 and a support level of 1.59-1.60. The Middle East situation is escalating as I type and Brent crude oil price has hit a new high of 99.80 so I believe there is more upside for this stock. As it is a small cap stock, the price movement can be more volatile. I will split my purchases into a few batches to manage my risk.

$Oiltek(HQU.SG)Oiltek stock performed excellently yesterday, reaching as high as 1.77 before closing at 1.69. The volume looked relatively high as well. It is still below the upper limit of the Bollinger Band and KDJ has not reached overbought levels yet so there should be further upside. Let’s see if it can reach a higher high today.

$Oiltek(HQU.SG)The red candle yesterday was a surprise for me given oil prices are still rising and there is no sign of abatement in the Middle East war. I am still holding on. I have kept my position intentionally small for this as it is not a stock that has met my criteria for long term holding yet.

$Oiltek(HQU.SG)On Friday, the price of Oiltek went up as high as 1.72 before closing at 1.63. This sign of profit-taking is not surprising as some traders like to close their positions before the weekend. The weekly chart suggests a rebound could be taking shape. The daily chart shows a MACD golden cross. Support is at 1.37.

$Oiltek(HQU.SG)Oiltek’s price had been in decline after the ceasefire deal was announced so when the talks collapsed and oil price went up, I decided it was a good opportunity to purchase Oiltek shares yesterday. I was careful about my sizing as I know the stock price is sensitive to any change in the Middle East situation and have set price alerts for stop loss and profit taking.

trending sectors will always win big , like oiltek (hqu.si sustainable jet fuel investment) & chip stocks. of course we can rest easy and buy the many smid cap funds launched by the sg value unlock 6.5billion $