I had taken a position around 34 p, with tight stop loss, so got kicked out day before the bad news came out...
with more than 100% dilution, now I wont be buying this anymore... too risky...

Another oilies off my list now

pmo - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...+LRIfWqP76r7W7TxwEw=

this should retest the lows imvho....question is with the massive dilution on the cards is it worth a long form that 14p area?

atb, wdik, dyor,
trendfriend

pmo - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...8SbRLdb/G+rg4JzaBOc=

just a couple of quick charts from the weekend which may be of interest.
this has broken below a rising trendline/triangle....and combined with a rsi break as well...i think it should be the start of another leg down imvho....possibly back to the lows at least.

atb,wdik, dyor,
trendfriend

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...vfEdBoWEVBrtfFtsE%3D

This did break to the upside above a key triangle formation...but that b/out does increasingly look like a bull trap imvho....

This does seem to be heading towards the main trendline at around 65p...if that fails...its not going to be nice...
This doesn't look great...and tbh i'm seeing that with most oil stocks atm...even bp looks like it should come off quite substantially imvho!

lets see...

atb, wdik, dyor,
trendfriend

Price hit 84.5 as per my previous post. For the moment it's just shy of 84.7 (July 31st high). I have no interest in this for the moment. 84.5/84.7 looks like a decision point and the 2 gaps below this level represent too much risk for me at the moment (together with PMO getting involved in Alaskan Oil plays despite their current debt).

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...IpZlQrIQMelh/P+CGwQ=

at this moment, no change in view for me imvho...

the main overhead trendline and the key 200 day ema line feature on the daily chart....at 83p currenlty...
no break...no higher...

while below the 200 day ema this is in a downtrend imvho and its making lower lows...longs are dangerous atm...
a break and close on a eod closing basis above 83p changes the bear view, while above that level..

atb, wdik,dyor,
trendfriend

Somewhat controted Cup n handle pattern being formed. Price is 79.2 ish a close above 79.8 suggests a target (estimated from the handle) of around 84/85. Could also view the pattern as a double bottom (June 17th and Aug 15h). Current price closes the gap on the daily chart on Aug 1st) and challenges the handle neckline. Could go either way, further rises in POO could favour the upside, but 2 gaps below this level suggest unfinsihed business at 71.8 and 67.

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...Fc9jP8zZDYOrHnApw%3D

I think a possible relief rally from 67/68p coming up imvho....maybe only upto 76p area??
The rsi has hit a support and may hold for now....if it fails here at 67p....then 54p>50p

either way i think this in a longer term bear phase/trend again....and will test that 50p area....strong support at 50p here....but it may well go lower...
longer term if 50p fails.....it may possibly even do a gap fill at 20p imvho....as very little support between 50p and 20p...
You can see what i mean on weekly chart here...

pmo - weekly
uk.advfn.com/p.php?pid=chartscreenshotsh...9ZLDnHH+klDICpZYKcM=

atb, wdik, dyor,
trendfriend

never know....could well surprise us all!
needs to get above and that 200 day ema line for higher....but the rsi hasn't broken out even short term resistance with any conviction...

i think this has a very good chance of testing 67p and even making another l/low imvho....but wdik...
looks like a bear flag to me...but lets see...

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...WId%2FKQ5ydRSV9Q0%3D

atb, wdik, dyor,
trendfriend

Looks like a fake breakout...
See what happens tomorrow ..

Looks bullish short term..
this needs to stay above 82 and also cannot drop below the new uptrend line that's formed recently.
I suspect this is going to test 92.8 down trendline.
Its closed the gap at 84.65 just so happens to be the high today..lol

Support....82,,,,78.8,,,
Resistance...85.7 (200 ema),,,,92.8 (main down trend line),,,,102,,,110

pmo - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...xX87HKeBfSmxL3hlXfk=

breaking out from where?
careful this may go up to 88p area(if that)imvho....so buying now close to resistance is very risky...

need a 3 x close or weekly close above the 200 day ema line for higher....
atm, 88p and then 90p no break no higher...

atb, wdik, dyor,
trendfriend

It's breaking out now. Should close the gap reasonably quickly if POO stays high.

This needs to finish above resistance at 82.6 and would be bullish and likely to head to your target area.
Id target the trendline first at 92.6 for a target.

PMO SP seems to trying for the upside from a triangle pattern. If it closes above 82.5 there is a logical target around 97p and some technical resistances above that level. There's a gap to close on the daily/2h chart to 84.7/84.5.