No share ever goes up in a straight line3 Dec 2020 07:43
We saw the retrace from a peak of 37p only last Wednesday. Down to 26p ish. Since the Tuesday morning dip, ‘shorter burning ‘some would say, it has regained the trend upwards. I see today’s sp as the new floor and so the fluctuations will be above this point.
My view this cycle, perhaps a week, is a peak into the 40s or higher before a possible retrace but it depends on oil. If the new floor for Brent is $55 then it is very likely that the new sp floor will be in the 40s.
Once again this company is safe, the RBL is planned for January. As the likely operating cash flow environment likely to be strong in January any risk to shareholding must be viewed with less caution now.
£1 possible on spikes in new year and stable by q3, 21 . IMO
GL all