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Market Flash

Echo Energy’s share price finds support as Market Cap dips to £30m

by ValueTheMarkets • November 27, 2018

With a Market Cap now hovering around £30m, Echo Energy (LSE:ECHO) is looking increasingly cheap at 6.3p. A significant chunk of the current valuation is backed by cash with the company stating it held a balance of £26.1m as of 30th June 2018. The share price chart reveals the stock has been consolidating around 6p…

Gold continues to move in bear flag and hits resistance – where now?

by ValueTheMarkets • November 19, 2018

The spot gold price is once again knocking on a ceiling of resistance having made a recovery back into the $1220s. This latest move follows a retest of the all-important $1200 zone which bulls successfully defended last week. The zone was well protected with a number of supporting trend lines including a key diagonal support…

Premier Oil share price tests support after sharp pullback in oil price – is it a buy? (PMO)

by ValueTheMarkets • October 26, 2018

Back in March I highlighted Premier Oil (LSE:PMO) as a potential buy at 66p, with a caveat that it might dip to 62p. The stock managed to hold onto its 200 Day Moving Average (DMA) and raced ahead, hitting 130p in May. Since then, the price of brent oil has surpassed expectations, leading to a…

Echo Energy looks oversold as it hugs support line (ECHO)

by ValueTheMarkets • October 19, 2018

Echo Energy (LSE:ECHO) recently completed its current drilling campaign with the rig now off contract and demobilised. As it prepares for the next phase of activity, a look at the share price chart reveals the stock is hugging a line of support. The current macro sentiment has been weighing down on stocks generally with recent volatility…

Anglo African share price bursts through key resistance line as drill bit continues to turn (AAOG)

by ValueTheMarkets • October 19, 2018

As the drill bit turns for a second time, the Anglo African Oil and Gas (LSE:AAOG) share price has continued to build in anticipation, albeit from a lower base level this time. What is notable with today’s 10% climb is that the price has just pushed through a key resistance barrier – a diagonal formed…

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