RE:Consolidation!quintessence wrote: We've had one of the longest consolidating periods in the last year. MEG share price running virtually flat as oil price continues upward?
Never mind the day to day fluctuations the traders are trying to score on as there hasn't been much happening here.
However, the big picture remains the same. Price dipping to $5.86 and picking up a few more thousand shares.
Still in the red with substantially more shares at an averaged down price. If I can't get an uptick this upcoming 2Q than I think I'll hold for the potentially big move in 4Q.
Good luck.
All IMO.
I think they said they should be finalizing the sale of their portion of the access pipeline Juneish so that should boost the shares substantially, unless they are giving it away of course.. If they can get 2 billion, and put it towards debt for the timebeing and shelf expansion plans until oil is firmly over $70 or so, that should shoot it up 20% to 30% or so in my opinion to trade in the low to mid 7 range.