News & Analysis

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, 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.

    More News & Analysis

    OYO IPO: what you need to know

    Indian tech unicorn start-up OYO intends to issue new shares in animminent $1bn IPO. Is the Airbnb competitor a good investment opportunity?

    Toast IPO: what you need to know

    With a $30bn valuation, Toast made its co-founders instant billionairres at IPO. Is this a restaurant tech stock a good long-term growth investment?

    Is Microsoft a good investment?

    When it comes to tech stocks, few could ever hope to reach the level of Microsoft, but is it a good investment?