Could be nothing but then again could be something.
RSI has broken its downtrend and the sp looks to have stabilized. Once it hangs around the 21 day moving average, I like to see it start hitting the top bolly band.
The gap at .135c has been closed so that's good to see.
MACD has started climbing north... another bonus although far from crossing into positive territory at this stage.
These technical indicators together with the approach of drilling Siphon 1 indicate to me that at least the sp shouldn't fall much more and those who want to accumulate for the run up to S1 will do so now.
Personally, Ive been in NGE for some time now but I think I will reduce my risk around the spud date/drilling results. If its a flop and has too much water or something, the sp will get punished and more dilution through the share placement means I'd rather reduce my risk.
Just my 2c worth.
NGE Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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