Investors in Jersey Oil and Gas (LSE:JOG) have the summer drill of Verbier to look forward to, but as is often the case, there’s been a lull in the share price with limited news flow. These dips often offer good opportunities for new investors looking for an entry or existing investors to build their holdings. As we reported in early February, asset management firm Schroders increased its stake from 9.1% to 10.2% above 200p. They previously bought the bulk of their holding at that price in the placing last October, along with a notifiable buy from Legal and General.
Chief Operating Officer (COO), Ronald Lansdell plumped up the share price just over a week ago with a buy of 25,000 shares at a price of 189.5p taking his holding to 4.24% of the company. The stock moved to 196p on that news but has subsequently drifted, now lounging around 185p. Yet again the chart is offering a new triangle set up with 179p the current base, and 194.5 the target to beat for breakout.
Author: Stuart Langelaan
Disclosure: The author of this piece owns shares in the company written about above