On Feb 17th the share price closed and was on line with the 90 day moving average share price at
.15. After that long weekend the share price traded slightly higher daily until Friday when it's strength surged the share price past the 30 day moving average share price, most likely in the face of impending news on Alberta Bakken production rates. The support price has moved up to
.19 with buying attacking the resistance at
.22 on 3 separate times at last Friday's trading. Resistance is now at
.22 and
.23. Breaking through that, the next resistance is at
.28 then on to incriments with
.36 being significant and then to the
.40 and low
.40's range. This will all be dependant on the strength of the published news on the oil production and well performance with underlying and unknown circumstances coming into play to effect share price outcome one way or another. Theoretically, we could see a double from here but the news and the market will dictate that. My Opinion.
Generically speaking, in laymans terms this means that the theoretical increased share price should have sureshots position valued at 60 to 65% of his initial investment but not likely to sweeten his disposition. Some of his friends, however, if they sell at the high, will have enough cash for the latest version of new space boots.
I seek safe harbour.................lol