Afren

Hi Ian,

Afren made 5 year low this morning SP 71.35, lowest since end Aug 2009. I was tempted to dip my toe in but think I'll hold off and wait and see, there is a definite chance that this may fall to low 50's even low 40's if this negative sentiment continues. It could well become a take over target at those prices. If, however, there does appear to be strong bounce from here back towards low 90's then I may jump in for a quick ride. A significant announcement such as some new replacement board members with gravitas would certainly help re-instill the lost confidence here.

This is fragile but IMO there is an excellent chance of this bouncing or finding a bottom at 72.25. RSI approaching support and first resistance in the 90/92 area for a decent return when/if some confidence returns (on daily and weekly).

uk.advfn.com/p.php?pid=chartscreenshotsh...UmAQ=&symbol=A%5EAPT

uk.advfn.com/p.php?pid=chartscreenshotsh...oY%3D&symbol=A%5EAPT

Monthly Chart if it helps

Hi all, I don't really want to comment further on this since I don't believe technicals can give an edge here. Bad news is coming, the only question is how bad.

The only way to look at this is sensibly and not like a PI. Wait for the news and then act rationally without emotion

Support at 73 might be a good bet post news.

F4T

A new 123 low on the daily as well TF with a target of 104.75 should 99.40 break to the upside

uk.advfn.com/p.php?pid=chartscreenshotsh...Kfvs=&symbol=L%5EAFR

Just one to keep a eye on for now, if this can get above the 100p, and the 20 day @ 101p currently, i think it could be in the mood to target the 120p region, around the 200 day ema, and the gap area.

Maybe, F4T can take a look please? and tell us what he thinks.

Regards,
trendfriend.