I've been watching this one for some time... I have taken a few small entries recently attempting to get a strong holding, but I think at times I want them too cheap, I regret not buying more, may have to start to pay higher prices..... SHE is having a nice jump to say the least.. I think there will be a red day for the ASX tomorrow, DOW looks to have a hit... if, and a big IF, there is some profit taking tomorrow on SHE, I am hoping to load up... this is another major sleeper, strong interest is here... right sector currently... Charting and oscillators are in prime positions for further gains...bullish chart as it gets
From a FA point of view there is much to anticipate here... SP seems way undervalued, very low market cap... even the recent announcement regarding the well update mentioned daily oil production to date has produced a peak rate of over 10 barrels of oil per day (BOPD), averaging over 5 BOPD since pumping commenced. "
The Companies expect daily oil and gas production volumes to continue to increase as water levels are decreased further. "
What's not to like here, strong bank balance also... shares on issue are tightly held, not a lot of free float.... just over 400million shares outstanding... personally I think the up coming QTRly may surprise the market...
Here is a little chart and some TA for those interested:
Strong Bullish Momentum
Momentum for SHE is strongly bullish. The 14-period Slow Stochastic Oscillator is rising, as investors pay higher prices for shares.
Above Average Volume
Today's volume was heavier than usual, trading 28M shares, versus an average of 4M shares per day during the last twelve months. The On Balance Volume indicator (OBV) is bullish. The slope of the indicator is positive and suggests that buyers are presently more active than sellers.
Bollinger Bands Signal Volatility Squeeze
Volatility, measured using the width of the Bollinger Bands , is extremely low, resulting in a condition called the Bollinger Band Squeeze. Bollinger Band Squeezes tend to precede major price breakouts, although they do not predict which direction the new trend will take. Trend and momentum indicators can be useful during Squeeze conditions to help discern the direction of future trends.
I Personally think SHE is about to have a re-rate... not sure when, but soonish is my bet...
Would like to wish holders all the best..
My over all opinion is that SHE is very worthy, in the short term it may continue to consolidate before the next leg up, profit takers could become more evident in the short term...
If you like my charting and analysis please feel free to click over my avatar and click follow, please tag me in any other stock threads for some alike analysis, I don't always have time, but if I can I am happy to accommodate ... love being bought attention to other stocks...
