Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The more I’ve looked at Xcite Energy (XEL) recently the more I’ve liked this stock. Last week, I wrote an initial positive response to the company’s AGM presentation. Since then, I’ve watched the share price bump along around the 70p mark. Ideally I am hoping for a sub-65p entry level, but I might be pushing my luck with this. Notwithstanding a market wide retreat, it looks like a base is forming, as investors digest details of the company’s new strategy to commercialise Bentley.
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