Petro One Energy Corp CUDBF

POP.V Continuation Triangle Sets Target Price: $0.34-$0.36

[yukon_gold]

Petro One Energy Corp
(POP:TSXV)

Event Details for: Bullish Symmetrical Continuation Triangle

Tells Me: The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend. A Symmetrical Continuation Triangle (Bullish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks out above the upper trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior uptrend.

Event Date:	Jul 25, 2014
Opportunity Type:	Intermediate-Term Bullish
Close Price:	$0.26
Target Price Range:	$0.34 - $0.36

Price Period:	Daily
Volume:	308,500
Pattern Duration:	42 days
Inbound Trend Duration:	200 days

 

 

Long Term Bullish Trend & Technical Events:

 

[2fast4you]

Thanks Yukon. I see that and to add. explaination to the TA events you have illustrated... Again they can mean little on the venture issue... 2fast     MomentumW Short-Term Bullish $0.26 n/a   Jul 25, 2014 Symmetrical Continuation Triangle (Bullish) Intermediate-Term Bullish $0.26 $0.34 - $0.36   Jul 25, 2014 Short-term KST Short-Term Bullish

[poise]

Wait for the Initial Production of the first well as it may be reported at 1000 BOPD.  The SP will sky rocket to well over $1.   The Manitoba Logdepole horizontal wells are explosive the first day(especially the first 10 mins).  Waiting for the licence to buy at 22 cents.  JMHO

[poise]

I now raise my target to $1.20+ as the two cheerleaders are back.  Thanks Guys. JMHO.