BLVN

Petrofac Integrated Energy Services Data Pack Presentation (taken from BLVN bb)

www.petrofac.com/index.asp?pageid=463

The presentation references and includes the Bowleven Etinde permit development as a 'Key IES project' alongside other established projects. Clearly Petrofac are serious about committing to the partnership alliance with Bowleven to continue referencing the Bowleven Etinde development in company reporting and presentations. Interesting to compare the detail on the commercials and revenue guidance on the other IES projects.

Key sentence from the presentation: "FID on the Etinde permit development in Cameroon not expected until later in 2013"

The alliance is happening and the Petrofac financing alongside a farm-in partner will transform Bowleven and it's resources to reserves
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dl.dropboxusercontent.com/u/7238706/BOWLEVEN.png

I'm totally unsure on this one but, if I had to make a decision I would say it hasn't quite bottomed out; which is probably the kiss of death for the bears and all the bulls wanted to hear
56.75 looks like a good target

uk.advfn.com/p.php?pid=chartscreenshotsh...Q%3D&symbol=L%5EBLVN

Quick update. Blvn is getting interesting. On the bearish side we have had a confirmed bearish engulfing pattern and a close below the neckline of a somewhat lopsided H&S pattern. There is also bearish divergence forming on MACD. Trade was below 60 today.

Trendline support is at ~58.50 with potential double bottom at 56.50 and 53 below that as we know.

On the positive side, volume Friday was above average, which shows an appetite at the 60 level, where most of the take-up was.

My feeling is that the neckline break will give downside momentum through the trendline but I see the 56.50 area being bought heavily.

I will watch volume on the descent and the RSI support line for confirmation.

uk.advfn.com/p.php?pid=chartscreenshotsh...vr6oP12EWWzgXt1D4%3D

We now have a lower low, so the short term uptrend has broken down. Next key area is horizontal support at 62.50 and the 61.8% fib of the 56.50 move at a ~62. Might get a bounce here.

If this level goes then there should be a quick retrace to the trend line in the 158 area.
There was a nice double bottom at 62.50 at the beginning of the year so we may see the same at 56.50 as traders will have the former in mind on this share. Support below that is at 53p

The key on all these levels is to watch volume to see when the retrace is bought.
A break of 71 looks a long way away already fro the bulls.

I doubt it. Firstly, you need an uptrend for a bull flag ;o)

Food4thought, is that a bull flag forming on your BLVN chart?

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