Cardinal Energy Ltd (Alberta) T.CJ

Share Price

[ozkan123]

any TA's having a look at latest price.
Sure has appreciated to a good level, but my amateur look at the charts seems like a resistance at the current levels from 3 to 5 year chart.
I know this may mean sh*t with the good news lately and could explode up on any further good news, whether it's a dividend (although I think that may be premature still), or share buyback (still early??)
OR are we being window dressed for a sale above 4.
I would like to think on selling now and buying back in the 2.80's BUT....I got a feeling I may miss the next jump before it goes back down
Thoughts?

[fogduckker]

 OZ, My thoughts are that you will not get a chance to buy back in below three. I think that CJ will track with oil price. I know that "this time is different" is an often ridiculed statement in the investment world but I actually do think it is this time...in fact very very different. None of the super majors are reinvesting most of their cash flows in "green" energy. And

[BadShituation]

Oil really needs to stay strong to support this share price IMO. Or some good news. EIA was pretty good imo, but some of this up move in WTI feels like shorts getting walloped Plenty of room to go up in the mid/long term but short term we may get some distribution and sell off slightly. I was pretty comfortable selling some covered 3$ calls this am over 3.20$ to lock some of that in. Not sure

[kavern23]

I think we need to see CJ trade at over 3 bucks for a period of days before we can make the call that it has perm type support here. Like few posters are willing to say they added CJ over 3 bucks...people are willing to hold but who is adding? I have been very cautious buying on such a day when everything is up...I dont want to get stuck. I did buy IPCO as I think even if oil fell to 60 they

[kavern23]

CJ holding 3.08  level or higher is a big win today...EOM

[BadShituation]

That was a good close. finished up with nice strong buy volume right into close

[kavern23]

Agreed. And just as important oil closed over 65 bucks. Was also critical to have oil hold over 65.

[Backinblack1000]

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[kavern23]

I am focused...I got the tunes so loud the  walls are shaking...we like to party bro....

[kavern23]

Well I didnt have time to state the reasoning on why I felt 3.20 would be short term high for CJ. It's obvious from the charts. April 13th, 2019 close was 3.19...last time been this high.   The chart does look good for CJ. If CJ can trade and close between 3.30-3.50 for next few days..it has a chance at a 4.50 run. But CJ would continue to need oil to go up and trade over 70. Lots