Didn't say it is but I know the way it works with any company of the size of FOGL. I deal quite regularly with the merchant banks which support some of the MMs and am aware that quite a lot of support was given to the S/P when it was needed. I have in the past been an underwriter to IPOs also. FOGL has a capital size that is larger than quite a few mid-caps also so that alone will mean some market support if appropriate at the time. The same cannot be said for a small cap for example, where the price is just left to drift as per one which I suspect we are both looking at just now.
I don't think a stock like FOGL is at all linked to the performance of the main markets.
Yep sounds about right, hope we are right here. I really want to load up on some more, ftse may pull back soon after the v shape recovery of late, that should give us the chance to back test and find support.
Break out TOMC1
No reason for any yet, the MMs and their bank backers were stuffed with an awful lot of shares between Feb and June, so they will keep on supplying the market at least until 3D timing next month. After that we will all see what happens. 32-35p is my guess then steady if unspectacular rise to Dec.
To brake out or not
I'm guessing not, not right now anyway. RSI in the 60's i.e. nearly overbought --- Outside the bollinger bands --- We do however have a nice rising channel now which we are at the top off, bottom of the rising channel would be 26pish which is also where that 200 Moving averages is to. Got my order in 26.3 for some more, hope we get it otherwise i will buy on the breakout. Come on 26p ;)
Hi Tradernor, interesting info, but you cannot compare these quite small Colombian producers with the FOGL potential as first production is due 2018/19 @ 100k bpd and with luck probably much more later. As to South America generally, several US oil cos have recently sold out there to return to West Texas which apparently holds well in excess of 125bln bbls of high quality shale oil. This is more than Saudi Arabia and some Gulf States all put together,and an OPEC game changer over the next five years. Nonetheless your point is taken. Thank you.
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