Well I guess that would make it also a short term buy.
Ride it up to the 5.5-5.7 Resistance then sell.
But for my money, I believe that it will probably get to 5.5 over the next week purely based on investors analysis of the recent announcement that as an estimated resource upgrade to "7 BILLION BARRELS" and the quality of the recent seismics that have identified extremely exciting prospects.
From there the first 2 farmouts should see the SP smash through that resistance and up towards 9cents.
With the 3rd farmout and any success by Anardarko taking the SP to weekly highs around 17c.
If Anardarko has success that will significantly change the Chance of Success of the year end wells in L6 & L9.
some bullish technicals, page-9
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Last
51.5¢ |
Change
0.025(5.10%) |
Mkt cap ! $47.59M | |||
| Open | High | Low | Value | Volume |
| 48.0¢ | 52.5¢ | 48.0¢ | $164.4K | 328.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 28930 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.5¢ | 9744 | 1 |
View Market Depth
| Last trade - 15.55pm 27/06/2024 (20 minute delay) ? |
| FAR (ASX) Chart |