RE:Forming Head and Shoulders....I saw this formation around the 8.75 mark and if it broke 8.50 we would see a decline which we did . I was tempted to sell and buy back in. The 8.50 mark was broken and the sellers came in, do I think it will continue? Time will tell but my take on the earnings was they beat analysts estimates for earnings by a penny or two depending on which estimate you use. Yes the debt ratio is still a little higher than I was expecting. Are they making money or are they losing money and is production on track? It looks positive to me so other than the price of oil being down right now and the Cad. dollar lower I will continue to hold.
There was not much change in the short position but still heading lower. Lots of volume the last few days so I would think the shorts might be trying to cover their positions now. At this price level I would agree a takeover bid could happen so I'm always waiting for a Merger Monday announcement. Still see 12.00 looking forward. Just my opinon. Cheers