I am by no means a technical analyst of stocks and IMO, AUT...

I am by no means a technical analyst of stocks and IMO, AUT generally doesn't lend itself too well to technical analysis because its share price is still (mostly) driven by announcements.

There's been weakness in the crude oil price of late (falling from US$80/barrel to US$73/barrel in the space of six weeks).

The flow of news has stopped for a while. Just reading over some announcements in the last week, AUT has spudded the Patino #1H well in Ipanema, but there's been no flow rates released to the market from this well.

We've had the 7 day flow rate (on restricted choke) from Turnbull #3H well.

Production tubing has been installed in Turnbull #2H well and "will be brought back online shortly" according to AUT's announcement last week.

We've had the 60 day flow production milestone on Turnbull #1H well.

So there's news to come which should hopefully provide the next kick along to AUT's share price, but I think the sell-off is due to the short-term holders deciding to take profits in the absence of news and with the general weakness in the markets and the price of oil.

I'm hoping, without a lot of background, that $1.00/share is a psychological support level for AUT. We've been as low as $1.01/share today but we're slightly above that now.

Good luck to all holders and DYOR.