Arcan Resources Ltd ARNBF

explosive technical indicators

[jazzfest]

I am extremely surprised that not 1, not 2, not 3 but 4 technical indicators are showing extreme bullishness for this stock

1- morning star formationwhich I explained in details on friday

2- MACD very bullish ( fast line just crossing slow one and firing twards zero line)

3- Relative Strength Index approching zero line ( way way oversold)

4- DMI ( th DMI+ just crossing th DMI- line-) which is extremely bullish

I usually buy on one indicator. Imagine the 4 happenning simultaneously!!!

me dont think ARN will be sold under $5 to $7 range.  7 drills on hold while production moves on on all cylinders!

[Quatchi]

Crossing the simple and exponential moving averages is a good thing.  The morning star was good.  I agree with the MACD in the short term.  RSI is approaching what, 50, so recovering from oversold and showing some bullish divergence.  I like the fast stochastic the best.  The DMI is ok.  I bought at 1.37 on the way up as this may get bought at these prices, however

[jazzfest]

the NAV???  this is far above the present price. We had 2 years of sustained average proce $4-6$ the takeover should be close to $5-$7 if it does ever happen of course. me dont think so. 7 drills unaccounted for. right?

[Quatchi]

I know it is way above the present price and don't think we will get there,  just want the upside that I believe is there and figured there was a good chance to recover from the fall.  I originally bought this for a buck 62 going back I guess it was two years ago as a trusted advisor said it was a good stock.  I sold in the 2's.  I usually only play technicals.  As

[HAPPY$]

I hope your right cause personally i would'tn take $3.50 right now.  I know its worth more then that. I would definetly be happy right now with $5-$7

[wordless]

Only reason I say I'd tke $3.50 is becasue this bumbling group of managers has totaly killed shareholder value here.  My worries is they continue to screw up and then we are forced into a sale.  If they actually execute and oil stays at $90, we might be able to get teh true value this company is worth, which at one point I thought would be close to $10 a share....  But no, they

[ch4sauce]

These posts of $5-7 takeout prices are hilarous.  Look at the recent WFE and GO deal or what happened to SCS.TO.   300% multiples are for gold exploration juniors not oil and gas companies.  I was in at just under $2 and averaged down at $1.20 and would be happy to see $3. 4500boepd x 100k/boe=$450MM $450MM - $300MM debt (debs and credit line) = $150MM or the current