Looking at the ENG Buy/Sell stack it occurs to me that a good financial report from ENG will cause a quick spike possible 4c+. Very tradable IMHO.
Virtually no sellers until you get to 8.5c. Just 300,000 available from 1.7 to 4.5c
Surely this years report will come in better than FY08. I still expect to see a loss of around $3M and not much change to revenue of around $20M but this in itself is technically good news for this stock considering it lost $12M last year and the year before!
Might be good for a quick punt? I think a buy on this at up to 2.5c for a short term ~50% gain is a reasonable bet. If it does what I think it may, the spike will settle back in the 2-2.5c area after a few weeks.
Or not. If you do get in, keep your finger on the trigger around report time, LOL.
ENG Price at posting:
85.0¢ Sentiment: Buy Disclosure: Not Held
