The Anglo African Oil and Gas share price edges closer to breakout (AAOG)

28 Feb 2018 | by: James Moore

Last week I highlighted Anglo African Oil and Gas (LSE:AAOG) has been forming a Falling Wedge pattern. The beaten-up share price looks to be considering a breakout, having hit 10.9p this morning. The 50 Day Moving Average (DMA) has so far pinned down progress. I would anticipate a possible move to 13.5p in the event of a close above the 50 DMA. Positive news on either the license extension or rig contract is surely needed for significant upside and there’s always the risk that continued delays will result in further price degradation.

Author: Stuart Langelaan

The author of this piece owns shares in the company written about above

Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

    RNS Responses

    Top Tin companies to invest in

    Tin is vital for electronics, so it’s experiencing soaring demand along with repressed supply. Here are some tin-related investment ideas.

    When is Databricks going public?

    Databricks ranks among the highest valued private tech firms and is generating plenty of hype ahead of a likely float, but when will this take place?