ELK 0.00% 1.4¢ elk petroleum limited

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  1. 374 Posts.
    Very early days yet of course but good to see 500K or so of shares change hands over the last couple of trading days with this positive announcement.

    Downtrend that began following the niobrara crash last October has now been broken and consistent with the market depth, 0.14 looms as the first logical chart based resistance point. Looking for some continued consolidation here followed by a break through to test high teens again perhaps on the strength of some positive upcoming Ash Creek updates. If there is some 'exceptional' news forthcoming prior to the AGM it would be nice if we could start such a serious run from the high teens.
 
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