GDay all, CEO. Another acquisition play similar to RTL. Difference is RTL is said to have a project already & is highly likely soon to be announced before GM next Fri, whereas CEO scrapped the previous IO project (SP subsequently punished) & the recent volumes seem to suggest that they may have found another suitable project target? With 3ml MC & 1ml cash, it has very limited downside, bit hard to accumulate without paying up though.
GBP. The Dragonfly Doji I mentioned previously seems to get our momentum going again, only to get held up by a wall of capping at 20.5c. However, as GBP broke out on LSE last night & it was recommended as a ST strong buy by BUYSELLSIGNALS, I can see the wall at 20.5 to be taken down & the expected 23/24c hit today. After that, sub 20c will be history IMO. (from memory, PEN did breakout the next day after they were recommended as a buy by BSS).
PNO. Well done to those who were brave enough to hold yesterday when a speeding ticket looked like on its way. A TH re the status of production (possibly including the manufacturing & the marketing/distribution side of things + product launching date & hopefully targeting both Aus & international markets with some well known international partners in the industry). If the above said comes true, loyal holders will be in for a windfall. Seeing the frenzy happening lately on biotech companies, PNO may as well prove to be the ADO #3.
RAU. Gold drilling in NT, Bolivia. Latest results from Bolivia gold exploration should be just around the corner (still need volumes confirmation though)? Reason I mentioned is because I saw a rare tri-star formation on RAUs charts, suggesting current 2.9/3c is absolutely rock solid support, nobody is willing to sell below that level, so very limited downside. If tri-star happens at the end of an extended trend (downtrend in RAUs case), it signals a reversal could be just around the corner. Slow stochastic also just crossed bullishly on ST Daily charts, volume kicking in should then make RAU break out.
ROG. 100% interest in Surat Basin permits (potential gas-in-place of 8 TCF!), spudding late this month. Majors (BG, Origin & Arrow) drilling nearby. JV with CTP already made coal discovery in NT, which can be commercialized as CSG or utilize UCG/UCTL technology. The price has been under sustained selling pressure after issuing shares to the original permit holders for transferring interest & its currently just sitting above the last placement price of 3.6c. With spudding on such massive impact wells just around the corner, I can see the current price level a very cheap price to enter. Slow stochastic also crossed bullishly on ST Daily charts, so a pre-spudding rally soon?
RTL. A project has been found & rumour is the news is just around the corner. We are now only 5 trading days away from the GM on 29th, and it would seem to make sense that price is pumped up to some degree prior to GM to make sure everyone is happy & it goes through smoothly & brokers can then get their shares voted for. So Im expecting a considerable effort of pumping on this arvo/Fri or early next week the latest. If 2c support holds strong again on such a red day, i will be very confident to say that sub 2c on RTL is history. How often do u see a stock bounce back a support level 3 times, especially when the sell depth was so scary-looking sometime yesterday that it looked like it was gonna go back to 1.5/1.6c. However, it just seemed nobody was willing to sell under 2c at all, no matter how heavy the sell side was stacked up. That must be telling...... And today's last day of t+3 selling, if 2c holds in the morning, im fairly confident for a bounce back this arvo or tomorrow morning.
SGY. Nice acquisition ann 2 days ago (35mmbbls oil potential spudding 1H). Gas show ann any day now. Could do a VIL run. After a series of Doji appearing on charts, buying forces finally start to outweigh selling forces with the first white candle in a while & buy depth for the first time looking stronger than sell depth. That was on the back of good volumes too, so could it be someone in the know buying? We will soon find out.
Again ORD has been making strong moves recently Also watching ADO, BAS, CDY, FAR
Today could also be a good day trading VLA as it is currently sitting on 61.8% fib retrace level (7c) already. As the overseas mkt crashed last night, I expect to pick up VLA at a much lower open price. If you want as low as possible, I would place buy just a couple of pips below suggested open price, may also get hit.
