Allowance in this share and I still believe now Chinese on board, especially waterflood ! And new blocks, getting a good supply of water I believe that range will be a company maybe mid teens and I would say late 2018 will not be a totally different range resources and I intend to see that particular range resources in 2018
a "Symmetrical Continuation Triangle (Bearish)" chart pattern formed on Range Resources Ltd (RRL:LSE). This bearish signal indicates that the stock price may fall from the close of 0.34 to the range of 0.01 - 0.07. The pattern formed over 83 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken downward out of a consolidation period, suggesting a continuation of the prior downtrend. A Symmetrical Continuation Triangle (Bearish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks down below the lower trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior downtrend.
This bearish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.
That could not be further fro the truth, we are making good solid progress but waterflood takes time to build up pressure and we are drilling multiple wells from the same platform which can't be fully tested until completion but very positive indications so far. Give this a few more months and you will see the progress we are making.
all is quiet. I haven't looked here for a while but I see it is going nowhere but then what news has there been to move it. I'm hoping that it will turn around one day and as I have always said I will wait patiently until that day. I can't see much movement in 16 but maybe 17 was the year, I'm sure i said that in 15 or maybe it was 14!
Not sure if already posted but see below: Range Resources More good news from Range this morning as they announce that MD 251 (Was MD 51-2) spudded on Friday. The well is a ‘development well’ for the MD 250 as it is also a directional well to test the middle and upper Cruse sands encountered in the 250 well. Initial logs there identified ‘multiple hydrocarbon bearing zones in the 140+ feet of pay. This is the second in a six well programme designed to increase the company’s reserve base, expect two more Morne Diablo wells, one at Beach Marcelle and an exploration well in the Guayaguayare block.
Which ones are those Ch? Shouldn't you be more concerned with the opening trade at just shy of 0.45p, has given a big red candle for the day? Someone happy to sling in £700 at any price caught by a wide spread on open but it's turned the PSAR around. Still broadly aligned to the rising trendline from February and March, so arguably no reason for paranoia about what some algo bot may or may not be up to skimming pennies here and there.
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