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Athabasca Oil Corp T.ATH

Alternate Symbol(s):  ATHOF

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. It also consists of two operating oil sands steam assisted gravity drainage projects and a resource base of exploration areas in the Athabasca region of northeastern Alberta. The Light Oil segment includes its assets, liabilities and operating results for the exploration, development and production of light crude oil and medium crude oil, tight oil and conventional natural gas. Its Light Oil segment consists exclusively of the Duvernay in the Greater Kaybob area with about 155,000 gross acres across Kaybob West, Kaybob North, Kaybob East and Two Creeks.


TSX:ATH - Post by User

Bullboard Posts
Post by PUNJABIon May 17, 2016 11:47am
125 Views
Post# 24881165

Stock over 200 sma after a very long time

Stock over 200 sma after a very long timeATH has been a declining trend stock. Since August 2015 it became a range bound stock. For over a year the stock did not traded over 200 sma once . Today finally after a very long time it has crossed the 200 sma .

Now this stock has to stay above & close above 200 sma so that the stock can confirm the possible reversal process. 20 sma has crossed over 50 sma but it is still well below the 200 sma. Frist 20 sma will cross over 200 sma & then 50 sma will cross over 200 sma which will confirm the reversal for the stock by creating a golden cross. This stock still needs some time to do that. PGF created a golden cross last month & has taken off.  PGF reversal is confirmed & in tack.

Still ATH can run up because the noose around ATH neck was Hangingstone production that was bleeding lot of cash. This production has a breakeven around US WTI $ 40- 45. Today WTI is trading at $48.23 & the future months are over US $50.

Then you have a massive short position for the stock. With Murphy deal & massive cash position the company has this company has no liquidity problems. The huge short position at these low prices is bound to be covered.

Once upon a time this use to be a $18 stock. Was way over priced.  But the stock at the present price is going to be a multi bagger. It stock was incorrectly misprices as it was shorted big time. These short sellers will now help in undoing the damage to the stock.

Bullboard Posts