based off the timelines and pending news regarding rig contracts etc along with the Ungani seismic currently underway I would predict $2.40 is looking more likely. Fundamentally thats the target so if the charts are also saying this is a likely scenario then thats good for holders. Just as long as we dont receive any negative economic news..or anything else out of the blue then we should be okay. Lets hope the seismic has no interruptions this time around.
The latest short report for the 29/07 also shows that close to 16.55 million are still on the short..as compared to 17.27 million from the 01/07. A little bit of covering occured over the duration of the month but pretty minimal considering some of those large volume days we had.
The pressure continues to build? Another positive run for the SP not too far off? The chart and fundamentals both looking positive? Maybe time for the shorts to cover a few more shares?
buru chart, page-5
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