Interactive Investor

Angus Energy shares are flying, but how high can they go?

23rd October 2018 09:00

Alistair Strang from Trends and Targets

This AIM-listed oil and gas company has rallied after recent well results. Alistair Strang uses his bespoke software to pick out the key trends to look out for, and he likes what he sees.

There's something we are on the edge of liking about Angus Energy's recent price movements. At present, they are trading around 11.5p and movement now bettering 12.75p looks capable of a recovery cycle towards an initial 16p. Secondary, if bettered, is at 18p.

Shown on the chart is an extremely tentative line, a trend drawn on historical closing prices. At present, it demands the share price actually close above 20p before continued recovery to 27p becomes possible.

Price movements certainly provide a little confusion as, to be honest, we have considerable trouble projecting any rise beyond 18p. 

If experience is anything to rely upon, should the price enjoy some manipulation gaps once above the 12.75p, we'd feel hope exists for life beyond the 18p target on the present cycle.
 
As always, there's another side of the coin. The share price would require to slump below 7p to permit a raised eyebrow as this could easily drive the price down to 4.5p initially with secondary, if broken, at 1.75p. To judge by the feel of price moves, this seems an unlikely proposition.

Source: Trends and Targets      Past performance is not a guide to future performance

Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

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