Rex Intl – [ Strong Resistance at $0.21, Will It Clear Soon? ]

19th February, 2020, 6:57 PM

Rex Intl – [ Strong Resistance at $0.21, Will It Clear Soon? ]Rex Intl 19th Feb 2020

Chart Source: Poemsview 19th Feb 2020

Rex intl just released some piece of news recently that their subsidiary achieves successful oil flow from Yumna 1 well in Oman. More can be read here.

After the news Rex saw a gap up to 0.189 and pushed up to 0.21. It is now at a strong resistance and testing it twice. It had previously tested the 0.21 five times and was unable to break. For this round, we’re quietly optimistic about a breakout and are looking for targets of 0.23 and 0.25. Some possible scenarios we’re looking at.

  1. Breakout of 0.21 and continue its move to 0.23 and 0.25
  2. Breakout of 0.21 and retest of 0.21 before moving up again
  3. Fail to break 0.21 and start retracing before another attempt.

We’re watching Rex closely.

Drop us a message if you like to know more about Rex.





Rex Intl – [Due For A Pullback? What Does The Chart Says?]

26th September, 2018, 10:03 PM

Rex Intl – [Due For A Pullback? What Does The Chart Says?]

Chart Source : Poemsview 26th Sept 2018

Rex Intl had a fantastic run from around $0.045 level to a high of $0.116. Very few would have thought that it could run that much. And to be honest, this huge run also took us by surprise too. A very rare penny stock to have made such a move.

Rex Intl had some news released regarding some interest for assets in Lime Petroleum and the better than expected results of the oil reservoir.  which might have been the reason for driving the price up.

With that we saw Rex Intl soaring through the roof and almost tripled in one month’s time. As of now, Rex Intl might seem overextended and a good healthy pullback might be good.

It has broken below its immediate uptrend line and also for the first time closed below its 5 days simple moving average. All these might suggest that some pullback might be due.

We’re putting our  first support at $0.1 and will update again. The current resistance might be at $0.116.

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