RRL - Finally turning?

and it continues....Closing sp 2.26p ?
Rumor has it assets being sold to re-focus on T&T....(Georgia - most likely to be divested this month apparently)

WARNING - FUNDAMENTAL ALERT

Cantor Fitzgerald initiated coverage with a rather conservative target of 3.7p

www.proactiveinvestors.co.uk/companies/n...-coverage-70020.html


Getting ready for the "golden Cross" with the 50 D MA getting ready to cross above the 200 D MA, MACD pushing positive again and the Stochs high.....news due?

DYOR

Ok, so maybe, just maybe this time the worm has turned.

After what can only be described as 2 years of hell spiral, poor management, deals we couldn't afford and the lending of shareholders money to "mates" for slices of other failing oil exploration companies, a change at the top has finally made a difference.

Almost daily RNS's have followed, skeletons out of the cupboard, the undoing of years of waste and bad financing, at a pen stroke, the debt is gone, company refocused on Trinidad asset and the world looks a lot more rosy.

i13.photobucket.com/albums/a272/ademcg/RRL_05June2014.jpg

On the announcement of the Abrahams cash I took the plunge (0.70p) and averaged down my long lost position.

Now things are hotting up with talk of the divestment of several non core assets, this could soon be up again.

I would love to hear guys thoughts on this one.

The sp closed above the 200d MA for the first time in a long time, it may be in for a pull back having had a great run, but I think this is the start of a genuine re-rate.


Best of luck !

Hi Remo, thanks for posting a "real pic" I can't believe how wrong the free chart can look (see my link)

Oh well you get what you pay for I guess

Hi ademcg
Thats not a morning star.
There would be a gap ether side of the candle.
they are a couple of doji



dl.dropboxusercontent.com/u/4899609/rrl20thsept.png

oops....linky

plus.google.com/photos/11021777614980907...10217776149809078048

Just looked at this one at end of business yesterday and wondered if a pattern was playing out.

The pattern I was thinking of was this:

Morning star:

stockcharts.com/school/doku.php?id=chart...candlestick_bullish_

The morning star consists of three candlesticks:

A long black candlestick.
A small white or black candlestick that gaps below the close of the previous candlestick. This candlestick can also be a doji, in which case the pattern would be a morning doji star.
A long white candlestick.

The black candlestick confirms that the decline remains in force and selling dominates. When the second candlestick gaps down, it provides further evidence of selling pressure. However, the decline ceases or slows significantly after the gap and a small candlestick forms. The small candlestick indicates indecision and a possible reversal of trend. If the small candlestick is a doji, the chances of a reversal increase. The third long white candlestick provides bullish confirmation of the reversal.


I only have free COB Pro Real charts to go on....so if anyone can put up a more "reliable" picture that would be great.

Thoughts ??

Anyone??