daytrades april 20 pre-market, page-2

Today's Trading Stocks

Market Direction: With the sharp sell down on the ASX yesterday it was no surprise that there were few trading opportunities that stood out yesterday. Hence this morning's list is limited to SSN which was a clear standout yesterday following an excellent announcement. Wall St recovered 60% of Friday's losses so our market should rise today.

SSN: Yesterday's announcement from SSN reporting a flow rate of 2,936 BOEPD resulted in some outstanding trading opportunities. The rate was nearly three times that reported as an interim flow back rate on the 14th of April. The chart looks very bullish with the slow stochastic crossing up, and the RSI and MACD rising strongly with all indicators pointing to further rises in the days ahead. Last nights trade in the US was very strong with the price closing at USD$0.86 in after market trading or the equivalent of A$0.047 cents per share. I expect a strong open here this morning and have a short term target of 5.5 cents. News Due: Details of further exploration plans for the Bakken project. Further updates on production from the Gene #1-22H well. Disclosure: Holding SSNO


Good luck today.