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Arcan Resources Ltd ARNBF

Energy Oil & Gas E&P


OTCPK:ARNBF - Post by User

Arcan Resources Ltd > Broken 50 & 200 Day Avg Support
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Comment by professon Mar 28, 2012 2:49pm
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Post# 19729300

RE: Broken 50 & 200 Day Avg Support

RE: Broken 50 & 200 Day Avg Support

IMO there are too many external factors and geo-political risk to accurately predict the direction of oil prices.

I have to agree with most posters here that Arcan is an attractive buy at these levels, even if oil should drop back into the $90's.  Don't forget Arcan's cost/bbl will be going down too so their netbacks will be higher. 

From Stifel Nicolaus:  ' We continue to feel Arcan represents materially more upside than downside at current levels'

I'm buying and will buy more if it continues to fall wrt to overall market conditions

 

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