Let's have a proper look at this chart posted by Salt Dome. It is in fact two charts with a breakat December 11
Despite the retrace MACD has remained strong as has the Parabolic SAR The RSI is still positive although it has dropped form the initial surge on ret-rading. Volume has dropped making the sp more volatile on the predictable Lind sell off. Like I said traders like SaltDome want you to believe the worst it is how they function and they can see this will recover they just want a cheap buy in first or am I wrong, are they just here doing charitable work on your behalf?You decide!
very bearish and not looking good, SP has not even reach the bottom side of the Bollinger bands. Even though the Para SAR had been positive throughout the fall, it sill falls. http://oi57.tinypic.com/wsr2tz.jpg
Lind were always going to offload their remaining collateral shares in case the court case finds against them, with only 23 million to offload if it is them dumping the 1.4 million blocks they will be cleared out soon. Ignore the obvious traders who want this to drop so they can make a quick profit at your expense
Or trying to panick buyers.......lol Whilst they dump in blocks of 1.4m, next stop below 0.7p Celtic....so predictable tamping away to his heart's content. By the time they have any meaningful production they'll have over 10 Bn shares........ouch
I'm showing faith, I believe that Mr Chen is the right chap for the job and he's focused on what needs to be done. Come on, think about this, his mates are in, he's in, he knows he needs to turn it round. All the steps so far have been required to get us to the break even stage. I can see 2000 BOPD coming soon. LO are drilling like crazy and new projects still in the pipeline. Ignore the background noise movement in the share price because it's going to happen. My advice stop reading the negative posts here, their just shorting the share with posting rubbish. I see can see a serious upside o 5.9p when this hits, it will be a big surprise.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.