daytrades may 11 pre-market, page-31

Posted by KOKO in GGE thread.

Macquarie edge
May 10, 2010 Monday

Grand Gulf Energy (GGE.AU), Australia's 116th largest energy company by market capitalisation, hit a 52-week high of 1.60c during the day. In the last three months the stock has hit a new 52-week high four times, pointing to an uptrend.

The stock rose for a third day on Monday bringing its three-day rise to 0.30c or 23.1%. The stock price advanced 0.10c (or 6.7%) to close at 1.60c.

Significant Uptrend
Price volume trend: the price soared 23.1% in the last week and 60.0% in the last month. This has been propped up by extraordinary volume of 13.1 times average for the week and by strong volume 9.7 times average for the month.

Relativities:
today its percentile rank in the Australian market was 87. In the Australian market of 1,282 stocks traded today, the stock has a 6-month relative strength of 99 which means it is outperforming 99% of the market.

A price rise combined with a high relative strength is a bullish signal.
Breakout: the stock traded at a 13-day high of 1.60c today. The bulls are maintaining control with price open, high, low and close exceeding yesterday's levels.

As drilling is scheduled to commence in May, . The first three wells are targeting a total of 9.2 BCF of gas and 1.6 MMBO of oil at shallow depths from 5,000 feet to 10,000 feet with over half the targeted potential classified as low risk proven undeveloped reserves (PUDs).

with the first well being the biggest for oil testing the Big Hum and Operc Sands with an amplitude anomaly targeting 1.2 MMBO and 3 BCF gas. If the first well is successful initial flow rates are expected to be around the 200+ barrels of oil per day and 1,000 MCF per day. IMO GGE appears to be grossly undervalued compared to its peers and this uptrend should continue.

SOME Market cap comparisons

GGE MARKET CAP 15 Mill..... 0.016
VIL MARKET CAP 19 Mil ..... 0.03
BCC MARKET CAP 25 Mil ..... 0.061
GGP MARKRY CAP 28 MIL ..... 0.031
SSN MARKET CAP 50 MIL ..... 0.034