another interesting trading day, someone still trying to hold this down, and some slightly more interested buyers. on a 5 year chart, bollinger bands have tightened up remarkably, fundamentals have to come into play with RFE soon.
looks like there is starting to be a bit of pressure on gas pricing at the moment with the large drop of 243bcf of gas in underground storage last week, spot price up to $4.73/mmbtu, could nudge $5 soon, makes RFE vastly undervalued.
India has another 2 companies interested in shale plays, release here, 1 crore is approximately $220k, so there are still companies willing to pay big money for shale gas plays.
imho RFE being accumulated at bargain basement prices. impossible to see who is buying as they are in nominee accounts though. news on the oil play has to be close by, this will hopefully put more upward pressure on the SP.
RFE Price at posting:
41.0¢ Sentiment: LT Buy Disclosure: Held
