last week in the teens, page-7

Reprint below of my analysis posted last August is still valid imo. Except for the comment about Wickerman's valuation which was based on a chemical flood not CO2.

Further to the previous i would offer the following stand alone chart based analysis.

Support @0.14 held from December to May and is likely in turn to provide the first significant level of resistance. A close above 0.14 will look to test 0.18 and then a range from low 0.20s to 0.25, a level confirming ELK's long term downtrend. A strong close above 0.25 on volume means we are off to the races with the downtrend broken and high probability of prices likely to test the previous resistance points of 0.40 (Niobrara crash), 0.55 midrange then 0.70 (original Ryder Scott 3P crash). This level is consistent with Wickerman's current ELK valuation following a funding deal. Naturally such a funding deal would be expected to be 'surprise' news and has the ability to penetrate these respective resistance levels easily on first notice. I would then look for them to be rebound tested as support levels to confirm a continued uptrend.

Good luck to all.