Afren

So, 35% up, not bad!! lol

I was really encouraged with this today, it broke above the 20 day ema, which gave it a good boost, came back retested the 20 day again and then bounced of it... Looks good to me short term at least...

Firstly the rsi is bang on resistance, should break out tomorrow am... a break above could be the signal the rebound has more legs....
uk.advfn.com/p.php?pid=chartscreenshotsh...BKcc=&symbol=L%5EAFR

These are the levels to beat.. 12.25p, 15p and 17.5p . Lets see what this does tomorrow.
uk.advfn.com/p.php?pid=chartscreenshotsh...NU%3D&symbol=L%5EAFR

Regards,
Trendfriend

The city boys will sell down before the close As they have done for weeks and let the Pi's take all the risk. If it holds the highs it is the PI's who are holding it IMO

I think this is a PI driven rise, no way of being sure though....
In any case, i always like to focus on numbers, Sir Richard

Forget all the noise imho (no disrespect meant to anyone here on CV), but you know what i mean....
As long it hits the numbers i'm looking for, i really don't care what happens to Afren in the end tbh...

Regards,
Trendfriend

TF,,One thing that does concern me slightly with this rise is the lack of AT trades which tells me that its not being driven by the trade ,,,, so far today 85mil traded of which AT's only 12mil ,, maybe it will change into the close

The key is the b/e cost for the company as this determines whether they are generating free cash or spending reserves. Seems to me it is above 60 as the sp is still foundering. If it's above 80 then there ios little hope for free cashflow this year.

If someone knows the number, please volunteer it

Without all the information it is a gamble and it is probably still a gamble with it! The prevailing SP is usually an indication of a placement price, but not always.

cynic wrote: not sure if this is the best way to respond .....

extraction and production costs are known, though i don't recollect them
assuredly they are higher than the present level whether based on Brent or WTL

if i read you correctly, you side with my view that PIs will end up with zilch, though there may well be good profits for the very brave and professional traders

The fundamental argument if this is a buy or a sell, can go on and on, all depends on your view point imho
maybe best to stick to technicals.

This has broken the 20 day ema. A close above i think 15p is real possibility imho.... Lets see at the close
High risk, (so stops are a must imho) but potentially high gain as well.
Understandable why folks would steer clear... not a bad idea tbh....

uk.advfn.com/p.php?pid=chartscreenshotsh...OcU=&symbol=FT%5EUKX

Best Regards,
trendfriend.