Member Info for Stupmy

I'm not in on the start of this, but I suspect you need a Walmart's!

Looks likely to have another pop at the 59p area to me. I've traded in or out since my last post, but am tempted on the long side at the moment. I'll mabye wait for monday though.

I started to buy a few back and even opened a leveraged position today around 23.5.

Price has touched and currently rejected the first part of the ascending TL support (22.55 today) I mentioned in my previous post. Just have to wait an see whether it holds as support or not. Not sure there's any rush to buy back at the moment, but I'll keep watching in case the TA view changes.

Title seems silly now, but I'll run with it to keep the context of the first post. I had intended to post a chart, but can't see how to do it. At the 24.65p level I see two things of potential signficance. The first is that it could be seen as a back test of the break to the upside that took place on Aug 24th. If that is true, then price should reject it and rejoin it's previous bullish trend. The 2nd is that at the same level the SP is challenging the support line that forms the base of the megaphone I suggested in my previous post. If price were to close any 2h period below 24.65 it would suggest to me that it will fall further. Possibly the early targets for such a falll would be the rising TL support (from May 28th/Jul 20/Aug 23) area currently between 22.35 and 22.5. Just have to wait and see now..

Looks like a megaphone pattern forming (bit messy, but visible on 2h time frame). That happens when there's a tussle between buyers and sellers and usually occurs after a good period of trending. I've already dropped half of my holding (last week at over 25p) so if price was to break to the downside I have cash to buy back lower should that seem like a good idea (at the moment it does to me). Obviously, if it breaks to the upside I reap lower profits. Thinking logically, there isn't likely to be any big surprise in the results to the upside as we know most of the story. That makes me worry that there will be selling on the news simply because it will be in line with what we're expecting. Good luck everyone, however you decide to play it.

I'd never be so rude as to turn down such a gesture. I got it right on oil hitting 74. Not sure if you remember that, but you thought it was a tad bullish! Was it mrc that suggested it's best to be out for results etc. That is a wise way of doing things.

Sept 2nd (Subject to change) Jeffrey.

Looks like we may finish on a high, that's normally a good sign for the following day. Everyone tends to see these things differently, but if you were to consider the chart pattern from March 8 to today, you could argue that the price is breaking up from a cup n handle formation with a logical target (Bulkowski) of around 34p. Just means that 50% of the time, a break of this type results in a rise that would get us to 34p ish. I try to look around that for a technical resistance (a point at which profit taking might kick in) and it looks to me that the first possibilities are around 27-27.5, then 30. There is, of course that lovely gap to fill higher up. That would close at just over 40. Interestingly, if you were to draw a descending trendline from May 4th 2015 to Jan 9th 2017, then a third touch would require a SP of around 42p today (not far from gap closure).

Jeffery, I had the potential resistance at the previous high of 25.35. We've just touched that. A break above that would be very encouraging indeed. Brent strong also so why not!
Good pun Romaron on the scrabble thing

Interesting change. In the past a drop in POO resulted in disproportionate drop in ENQ SP, but a subsequent rise in POO did not result in a SP rise. Seems the opposite now, a rise in POO gives us a SP boost, but a drop in POO has only a moderate impact on SP. Looks like the market is starting to believe in ENQ.

I've just added at 23.7ish. Looking hopefull

I've just added a little at just over 55.

Technically it's July 20th (final date; Enquest), but different providers have stated different dates from their own book. Was IG the 16th? IG have replied and confirmed my acceptance. As have Barclays.

I do have to say I was surprised by the 800 million figures bandied about. I had it at about 400-500 including GE. But this isn't an area of strength for me so I very much welcome this discussion L3

Thanks for that ep. I got no email as such, just a mail via the IG platform that I've been unable to find a way to respond to and their 'livechat' person wasn't able to help with (other than go through the helpdesk mail). Thanks again. I'll use that.

Can you mail/call them? IG in theory are involved and offering access to the OO. Having said that I've not actually managed to opt in yet.

For me I've replied to say I'd like to opt in but received no response. I actually even went through their live chat to be sure I was doing it correctly. I couldn't find a way of replying to the mail they sent via their platform and the person on live chat suggested I had to go via their Ighelp email. Which I've done. Ep did you go via their help email address?

Shax, in theory IG are participating in the OO so I should get some shares there at 19p. Not had a reply from them yet though.

Yhyh, I suspect a decent pull back in POO will hit ENQ SP to a minimum of 17.5p. At that point if it comes, then my view would be that it's the time to sit up and take notice and decide on when might be an appropriate entry. Could go lower of course.

Shax, I've attempted to accept the oo with IG, no response from them at the moment. I'm assuming that it will be more straightforward with Barc, but am starting to get that FOLO feeling. I'll deal with that next week I guess.