Amg Bioenergy Resources Holdings Ltd V.ABG.H

RE: Stock closed above an important SP

[geomean]

New high close today. [Yesterday's drop was on such low volume]. It has signaled that it is recycling and going to move up. This is often a breakout confirmation. The longer it holds above $2.38, the greater the confirmation of breakout. Using an Edwards and Magee measured move, there is a substantial minimum upside projection upon a breakout of this resistance area, i.e. to @$3.75. The longer we hold above the prior closing high of $2.38, the better the technical picture. There is an extremely long base, so these technical signals based on price action, plus the fundamentals, suggest this is likely just the beginning. https://stockcharts.com/def/servlet/SC.web?c=ABG.V,uu[w,a]waolyyay[df][pc9!b13][vc60][iUk14!Lh14,3]&pref=G Aton did not highlight the 40,000 BOPD production target ABG set out in its last presentation or ABG's own near term projections of 9000 BOPD production. Not many juniors at this price level can project such production figures. Perhaps the next key is announcement of a resolution of the status of the two shut in fields in Kazakhstan and field start up, now that ABG has cured the capital expenditure deficiencies of the prior owner of the license. Aton regularly visits the Kazakhstan Oil Ministry to get production reports so it would be interesting to get its take on how close ABG is to the resolution of that license question.