On the face of it shares of Europa Oil & Gas appear to represent something of a charting challenge in the sense that they have been spiky on the daily timeframe, with apparently little chance of salvation from a quite painful looking ongoing breakdown.
In the case of Europa Oil & Gas it can be seen that we have a situation which bears all the hallmarks of an early bird turnaround opportunity. T
Like so many other AIM companies, Europa Oil and Gas (EOG) is another that has so far failed to live up to expectations in a spectacular fashion.
Another day, another deeply discounted placement on AIM...This morning it was the turn of Europa Oil & Gas (EOG) to act out its own interpretation of building “substantial value for shareholders”.
Europa Oil &Gas (EOG) presents itself in a typically over bashed state – at least in terms of the share price. But on a technical basis it is a buy at 8.125p.
While it may be wrong to go for the statistical approach on charting formations, particularly when they relate to stocks in the commodities space, it is usually the case that you can rely on gaps to the upside – through the 200 day moving average. This has just been delivered at Europa Oil & Gas (EOG), and when you add in the way that the was also off the floor of a rising trend channel from July last year based at 8p the buy signal is all the more compelling.
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