Will agree with most of the comments above regarding TA, daily and weekly charts only suit those that are exactly that....daily or weekly investments.
If I had followed the above I would not have been here long term and accumulated my position right through even to this time last year when covid hit the market and share price went sub 0.005c.
It was was only my conviction, research and knowledge that gave the sometimes nervous confidence to stay the course on FA activity. I question and continue to question my position through and going forward: - Is management fully focused and driven to investment gain - Is there continued achievements even in tough market conditions - Is there sufficient capital or ability to obtain capital to increase the investment assets - Does the company hold and maintain a stable T20 - Does the company have the ability to grow within its industry - Does a gap exist between perceived company value and the market price
There is more to it than just that I know, but to keep it simple that is the immediate short list for me with, as I mentioned strong knowledge and understanding of company potential and pitfalls.
IMO the company is in the best position going forward for at least 18+ months, read all the information in the company statements and announcements, understand the nature of the Oil and Gas environment, the DSU coming online are shale wells...production reduces over time and most significantly in the first 12 months.
This period in the first 12 months has great significance in a higher oil price environment as the well cost can be paid off in this period leaving the legacy on continued production of oil and gas. Significant note here - The first well or parent well in the DSU carries the initial cost of set up eg pad works...subsequent child wells or horizontals in the DSU will incur less cost to bring online.
The retrace in share price is a given and gives me a little thought that drill and spud have not fully been factored in the SP up to now equalling more upside to move!
Share prices go up and down with momentum and happen in every stock, having said that BRK is about to enter into a period of great momentum over the next few months at least until first production sales
Don't sweat swings in oil and gas prices as the long term average is the guide, however everyone can hope that we see $70+ per barrel in the coming weeks to maximise rate of return in the first production period.
Anyway enough from me, bring on the big rig
Keep well cheers Paul
BRK Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
(20min delay)