Before the chicken littles start complaining about the current sp of 35 it might be worth noting that after the original Dorado discovery with all the sideline hype and quotes from Fred Wehr the sp didn’t go over 38 in 4 days of heavy trading. It was not until further oil in the Baxter/Milne and really wild speculation took hold that it went beyond.
Probably also worth noting at it only reached and closed on 28 the first day, but perhaps more significantly given the current support at 34, it closed on 34 the 2nd day, with 34 the low for the 4th day. Why 34?
It wont surprise me if we range trade around 34 to 38 for some time.
EL
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