From a charting perspective (yes, I know this is a penny stock), FEEC is in a beautiful consolidation pattern that suggests signifcant additional upside. It tripled from $.04 to $.13 over a 3 week span and it's been consolidating now for two weeks in a tight range. I would expect another week or two of consolidation followed by an explosive move higher. The measured move suggests $0.23 as a minimum price target. Granted, that just gets us back to where we were late last year, but it sure is better than languishing in the single digits
Has acted as resistance now for over 5 months. We tagged it again today before falling back off. If FEEC can close over $0.085, then the 50 day MA should turn into support. Here's to wishful thinking
The squeeze hasn't started yet. It will take a few days for margin calls to come in which will force shorts to cover. Today is a great first step in the process
If we clear $84.05 then it's off to the races. IOC has been consolidating for 2 years now and that represents the top of the range. I've posted several times before, if we get over $84, then the next stop is $125 (and it will be quick)
Don't be surprised to see this trade back down to even or sligthly down. Gaps on charts don't like to be left open. I suspect we'll close the gap before moving (significantly) higher.
"If you’re looking for a story, I will send you one shortly,” Damaris Minikula, the Corporate Communications Officer with InterOil replied to our email."
Not quite sure about this comment. For every sale that takes place, there is a buyer and a seller. The fact that we're up 3%+ on double the average trading volume can only be positive. We'll see where we close for the day but I'm having a hard time seeing anything negative about today's action
1) Agreement with Standard Charter extended to August (technically they received a waiver)
2) Very strong results from southernmost test well which suggests high prospectivity across entire block
3) FEEC is in the process of responding to MOFCON questions. They appear to be minor in nature. Typical beaurocratic government is reason for delay. CEO would not give an estimate timeline for approval, but he believes it will be soon
4) They hope to provide another update in the very near future
5) CEO was EXTREMELY optimistic
Down big today that's for sure. I'd be more concerned if volume was higher. Right now, only 270K shares have traded which only represents about $65,000. I would expect larger volumes if there was institutional activity
Interesting. Up over 30% in Frankfurt on 16x normal volume.