Notwithstanding the loyal sentiments, there is an opportunity here for serious technical traders to realise a margin that is a fairly low-hanging fruit.
The facts are, whatever happens in the 5 year vision, a trader can still get a quick profit by selling now and buying back in a few weeks when the price hits the technical support of 12 cents.
Why 12 cents? Charting hasn't shown any change to the downward trend in over 12 months despite monthly announcements to support the share price - I recall electricity was to be generated in December 2009, then December 2010, and now it's December 2011. The announcements are as consistent as the chart.
Balance Sheet shows clearly that all monies that end up in Carbon Energy are 70% committed to standing still (Operations) and about 30% to some hopefull overseas deal. The only thing not hypothetical currently is the number 12 cents.
Or has someone got another chart?
Notwithstanding the loyal sentiments, there is an opportunity...
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