Hi guys, my two bobs' worth on this as I have watched it for quite a while and traded a few times. 10cents this is one of the those cup and handle patterns that just didn't play out (unless it's gonna be a huuuiuge handle :-)
The drop in SP in June was after the CEO announced his resignation despite the profits being excellent, so obviously a bit of internal shuffling.
It's a great one to range trade as it can make 6-10% in a day or two, but IMHO it's an each way bet for breakout or pullback. even if it's up I reckon it would have to have a breather around the 1.14 mark. Given low vols over last week simply a case of the DOW pushing it?
I have resistance at 1.136 and 1.39.
But now that I've put the mockers on it it will probably hit 1.38 within several minutes - LOL
OGC Price at posting:
$1.14 Sentiment: None Disclosure: Held