Total S.A. (TOT) looks like it could be the perfect package. A positive-looking chart (see below). Good nearby support to hold down the risk. Upside potential and a healthy yield to top it all off.
Got your attention? Let's look at the charts and indicators.
Looking at this one-year daily bar chart of TOT, below, we can see that patient holders of the shares have seen the price rise but you cannot ignore the very large sideways consolidation pattern between $45 and $51 for much of the past year. Prices cross above and below the 50-day and 200-day moving averages several times. Beneath the surface, however, there has been steady accumulation.
Notice the slight upward movement in the On-Balance-Volume (OBV) line? It's there and buyers of TOT have been more active on days when it has closed higher on the day. Momentum has slowed from December into January and prices have been finding buying interest at the top end of a support area that begins around $50.
In this three-year weekly chart of TOT, below, we can see a saucer-like base pattern as prices changed from a downtrend to a sideways trend. The trend has turned up with TOT trading above the rising 40-week moving average line. The weekly OBV line is very bullish as it has been rising since early 2015. The Moving Average Convergence Divergence (MACD) oscillator moved back above the zero line at the end of 2016 and is in a bullish mode.
This Point and Figure chart of TOT, below, provides another nice look at the base pattern with a clear breakout at $50. The measurable upside price objective of this base extends up to $66.
Bottom line: TOT can be bought here with a sell-stop below $47 for now. Add on a close above $52 and $66 is our price target. Throw in a quarterly dividend and everyone should be happy.