Its now broken .77 which was a short term resistance & the closing price of 24/08 (annoucement day re sale of South Antelope)
Looking at the weekly chart this is appearing to form a classic double bottom (low price 7 months apart) & with a neckline of .81. This chart has been forming over a period of more than 12 months. A break of .81 on large volume should validate this pattern.
We may even see this resistance break before the finalisation of the sale and I would then put the next target at .88. Overall if this breaks thru .81 and that proves to be support, the chart based pattern target will be around 1.18/1.22.
What could drive it there:-
1) confirmed sale of South Antelope
2) Positive results from the two Mississipian wells.
PS, there maybe someone who can put up the chart :)
Good luck to all holders ::))
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