possible head and shoulders top forming ?, page-52

Ok H&S approaching 36c target... Price now at 37.5c and we are in solid downtrend... So target almost achieved ... but what then you ask ??

Well... there is a significant amount of negative sentiment surrounding CTP ATM given the unfortunate incident at MT Kitty and it appears the market has perceived the partial MK result as below expectations (perhaps unrealistically high expectations) given the response from shareholders since the results were announced...

So I think we will hit 36c initial target and I don't expect the negative sentiment to suddenly disappear at that point. The 36c area is the "initial target" only but there is nothing stopping CTP penetrating lower that this. If it does go lower than 35.5c and close below it then we will have broken through a significant area of support and further falls should be expected...

Personally I think we will range trade for a some weeks around the 35c-38c area until we approach the catalyst of the spud date of Surprise East and completion of the MT Kitty well (4 to 8 weeks respectively) which I expect will change the general sentiment/mindset of the investor/trader group to the +ive...

However I always remember rule no.1 never buy a downtrend, wait until it is convincingly broken to the upside before considering an entry.

All is IMHO DYOR to Confirm

PS: All the above is assuming no general market collapse or no unexpected good or bad news.