Re: Good point
in response to
by
posted on
Jan 15, 2014 10:34AM
Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
Hi Terry
I don't think it will go in just one move towards 1. $.But I also do believe this stock can have some good momentumm depending on the news and the progress they can make.Like I posted earlier this year IMO could be a turn around like that poster also pinted to.But until we can fly towards 1.00$ there are some resistance to overcome.First is the 0.32 mark where we stopped lately after the news we got some months ago.I presume we can reach it in short but not sure we can smash it.The numbers to come won't be so, good because oil price was lower past months butt another positive fact is the progress factor .So .32 could be a valid target but if we run trough it without any stop i doubt it.But once taken out next major stop I think is around 0.55 .
I think 1.00$ could be reached this year but later in time .If investors see that CLL is able to achieve larger steady production ,with lower cost and most positive if they can be able to cope with the debt situation of course that will put the company in another daylight and could trigger more investors for long term but therefor we need the news about it.
I have a lot of CLL shares and I think I will sell my stake which I bought around 0.18 at around 0.32 in the hope to buy them back on a drop .It's not I will get out of it just only try to make some extra of course if all falls into pieces like I think it will.
Then my next target is the .55 zone.I think after a smash trough the 0.32 next possible top could be there and it's possible we stay a while in that trading zone until another good news pushes it trough.That's about my opinion.Of course it is what it is.
I hope things come together in a good manor for CLL and if another company would take them out then it will be at a much higher price .