@jackdean33It's always important to do your own research & make up your own mind on whether or not you think it's a good buy or not.
When there is large volume / price action there will always be day traders, but that doesn't mean every time its a P&D.
For me, I like XCD for the following reasons:
- Cashed up (so this rise won't be followed by a CR)
- Ridiculously large prospective resource size of 1.6 Billion Barrels of oil
- Very cheap company valuation / mkt cap
- Surrounded by Oil & Gas Giants who may want to farm-in to their project to enable the drilling phase
- 88E is an easy comparison as they have a similar prospective resource size (albeit about 12 months more advanced) and is trading at c. 200m mkt cap (approx 20-bags higher than XCD is at the moment)
- David Wall (MD of 88E) is also the number 1 shareholder in XCD
- Chart has now broken out on record high volume
- There is an overhead gap at 2.8c
This was my investment thesis into this company - I suggest you work one out for yourself & make a decision to buy or not. The decision is yours & its the process which is important - i.e. decide for yourself, don't buy or sell because it's being talked about on threads or not.
