Oil Refiner Forming Bear Flag as Trend Shifts Lower
HF Sinclair (DINO) shares are forming a bear flag as the energy stock got rejected Thursday at the bottom of monthly value area and the 8 EMA held while also forming a inside day just barely. A break under 49.50 triggers a short entry into the downtrend that is starting since the name broke under the 200 day EMA last month and now below all key moving averages. If oil gets sold next in this weak market tape then DINO can see a quick selloff to 45 which is a VPOC level below.