2. Next up is a stock Afren (LSE:AFR) which has attracted plenty of speculative attention of late, on a mix of drilling, disposal and even takeover hopes. Of course, as a chartist I could not possibly comment. But a $1bn sale of Afren’s Nigerian assets to China’s Sinopec would be nice. On the technical side we have several positives: an unfilled January gap to the upside following multiple successful support tests at the 200 day moving average in the autumn, as well as a rising trend channel from July targeting 175p. The stop loss is just below the 20 day moving average currently at 145p. The full charting pitch can be read by clicking here.
I agree mate, sounds very promising short term and long term, I have been checking the TA on this and looks good although RSI hit 72 this afternoon, resistance is at 157, break that tomorrow and we could be seeing a decent rise.
A lot of positivity around affer's at the moment mate, it has been a frustrating share for some but T/O speculation seems to be giving it some momentum lately. Steady producer with good assets, couple with low SP, what's not to like? :-)
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