Rockhopper Exploration (LSE:RKH)
As politicians prove, constantly, you need to actually do something to become interesting. Though with column inches devoted to May, Trump, Corbyn, Cable, we could be fooled into believing politicians are hyperactive rather than media starved for copy!
Rockhopper (RKH), unfortunately, could lead a political party if its share price is anything to go by. In a few months, it will be two years without the price actually doing anything of note.
Most folk, suffering such extended periods of monotony, grow bored scanning their morning RNS reports, whereas we scribble lines in the hope of identifying the magic trend. To be honest, sometimes both efforts prove fruitless but, like RNS vultures, we never stop checking.
In the case of the penguin, there’s a reasonable chance it has not been nailed to its perch. It currently needs to exceed blue on the chart at roughly 26.357p to suggest some movement is coming.
A surge such as this should prove capable of growth to an initial 30p. Visually, this would prove “a good thing”, achieving a higher high than the last time the price bonked against blue and suggesting should 30p be bettered, continued growth toward 35p can be expected.
At such a point, we’d prefer to stir the tea leaves again as, while we can calculate beyond 35p, we’re not entirely comfortable with the projection strength.
For now, it’s pretty dismal and boring. Despite the red uptrend since 2017, we shall not be aghast to see it reverse to the 20p mark prior to any miracle bounces. Below 20p would be a bad thing, making 16p and below painfully possible.
Source: interactive investor Past performance is not a guide to future performance
Alistair Strang has led high-profile and “top secret” software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know “how it worked” with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang, Shareprice, or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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