Sound Energy - SOU

looks like my timing might have been a little out...but this GEM has legs.

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News imminent on their drilling / flow result in Morocco, 1Tcf in value to the Sound sp was estimated as approx 100 pence by a number of people.
Multiple Tcf is peoples thinking and it looks like Institutional' s have been told to purchase on the open market...probably adding to the upward move over recent days.

There is lots to this one and the move could be buy rumour, sell the news..watch this space, RNS due to hit this week

Hey TF,...I totally hear what you are saying......that is why I have only put my normal 50% stake in on this one while I do more research and like REMO look how this market is going to go.

On the weekly it seems to have popped above your down trend line?

I am also still invested in both XEL and GKP.....long term I think they will turn...but it is painful to see where they are right now. I will look to load up when / if we reach a true bottom for the rally and maybe take profit along the way.

Sounds(sorry, couldn't resist ) good Ade, just be careful not get too sucked in by the fundamentals imho....

Brings me back unhappy memories of GKP and XEL!!
ATB,
Trendfriend.

thanks TF...good spot...just added the weekly trendline (I did consult the weekly in-line with our charting code of pratcise , but missed the line draw )

Hopefully the expected news flow will push / drive this in the bear term (profit taking 25 +p) is my initial plan given the news flow and I hope associated sp movement:

New flow - potential sp drive events

1. Nervesa Gas (next week announcement due)
2. Badile permit (2nd week Feb)
3. Possible Badile Farm in.(follows point 2 above)
4. Sidi Moktar news
5. Tendrara groundworks rig on site and spud
6. It is one of Malcy's fav shares at the moment - he regularly reports on it update article due
7. Roadshow to New York at the request of brokers for thee days of meetings Breakfast, Lunch and Dinner, this share was up 25% after the first NY roadshow, second one a bit of a flop but 6% of shares now held by US investors.

Interesting times

This doesn't look bad, the setup is bullish....
However i see a issue, not going to say this is not going up....very possible it will, but if we look at the Monthly(our Master Wavesurfer did always say look at the weekly/monthly charts)

You can see this is bang on the trendline resistance. So you have a trendline below, and a trendline above.
Whichever direction this out breaks with a monthly close, will be where its heading mid to long term, so i would wait for this before taking a position. just my honest opinion and wdik.
ATB
Trendfriend.

Thanks for the thoughts guys....

An interesting day...increase in volume...no DMA for me so I can't tell if it is on the buy or sell side.

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