B2
From a oilspec market strategy perspective CVN is looking like a buy with a 3 to 6 month view.
I believe they are conducting another drill program mid this year? I am not sure of timing.
I believe the current price of 4 cents is the base of a consolidation zone and it is unlikely to head too much lower. Pre the last drill program they ran to 6 cents. That is 50% above the current price.
There is reasonable probability they will run to at least 5 cents and above as the new drill campaign approaches, particularly if they sprout on about the new exploration potential they will drill. I see a 25% low risk trade here as a minimum.
Irrespective of past disappointments and lower than predicted cashflows, there is nealry always a pre-drill program speculative bubble for us to ride on.
The only caveat I place is whether CVN will have to raise cash. That needs to be checked. Placements always dampen the pre-drill speculative price action.
I cant say whether I will buy CVN or not, but I do think are they starting to look like a low risk investment.
But maybe your charts dont tell you this???
acturtle
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Last
16.0¢ |
Change
-0.010(5.88%) |
Mkt cap ! $286.2M |
Open | High | Low | Value | Volume |
16.5¢ | 16.5¢ | 15.8¢ | $190.8K | 1.184M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 270750 | 15.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.0¢ | 38484 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 170750 | 0.155 |
16 | 611711 | 0.150 |
17 | 417455 | 0.145 |
4 | 387714 | 0.140 |
5 | 462006 | 0.135 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 38484 | 1 |
0.165 | 30500 | 2 |
0.170 | 1651292 | 14 |
0.175 | 1724093 | 18 |
0.180 | 1305701 | 13 |
Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
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