B2
From a oilspec market strategy perspective CVN is looking like a buy with a 3 to 6 month view.
I believe they are conducting another drill program mid this year? I am not sure of timing.
I believe the current price of 4 cents is the base of a consolidation zone and it is unlikely to head too much lower. Pre the last drill program they ran to 6 cents. That is 50% above the current price.
There is reasonable probability they will run to at least 5 cents and above as the new drill campaign approaches, particularly if they sprout on about the new exploration potential they will drill. I see a 25% low risk trade here as a minimum.
Irrespective of past disappointments and lower than predicted cashflows, there is nealry always a pre-drill program speculative bubble for us to ride on.
The only caveat I place is whether CVN will have to raise cash. That needs to be checked. Placements always dampen the pre-drill speculative price action.
I cant say whether I will buy CVN or not, but I do think are they starting to look like a low risk investment.
But maybe your charts dont tell you this???
acturtle
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19.5¢ |
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Mkt cap ! $348.8M |
Open | High | Low | Value | Volume |
19.5¢ | 20.0¢ | 19.5¢ | $386.1K | 1.979M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 425882 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.0¢ | 256926 | 7 |
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No. | Vol. | Price($) |
---|---|---|
5 | 375882 | 0.195 |
13 | 780670 | 0.190 |
14 | 2696117 | 0.185 |
6 | 844444 | 0.180 |
5 | 327022 | 0.175 |
Price($) | Vol. | No. |
---|---|---|
0.200 | 256926 | 7 |
0.205 | 424148 | 10 |
0.210 | 970744 | 17 |
0.215 | 539005 | 7 |
0.220 | 1709761 | 17 |
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