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Market Flash

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…

Amerisur Resources finds further chart support – will it hold? (AMER)

by ValueTheMarkets • October 18, 2018

Amerisur Resources (LSE:AMER) has seen its stock price tumble since it announced disappointing news regarding the N-sands at its Pintadillo-1 well. The price subsequently dipped below a long-term Falling Wedge pattern which I anticipated could provide the basis for a potential trend reversal for Amerisur. The stock has since hit new lows of 11.08p with a…

Is the Coro Energy share price forming a support base? (CORO)

by ValueTheMarkets • October 18, 2018

We have covered Coro Energy (LSE:CORO) a few times previously as a speculative play. At present, it is not possible to place a value on the potential of the company with so many unknowns, namely what acquisitions the board will bring to the table. From a technical perspective, the share price has revisited the 3p…

Is the Jangada Mines share price on the verge of a turnaround? (JAN)

by ValueTheMarkets • October 17, 2018

The share price of Jangada Mines (LSE:JAN) is still languishing well below its recent placing price of 3p. With the stock now at 2.4p I suspect there are a couple of contributing factors. Firstly, 1-for-1 warrants were issued in the fundraise, with an exercise price of 6p. It’s not uncommon for some investors to participate…

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