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Xcite Energy - Below 100p Risks As Low as 50p

By ShareProphets | Monday 29 April 2013


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.


An extended triangle formation based at 100p suggests that below this level Xcite Energy could head as low as 50p on a 3-6 month time frame. As little as an end of day close below 100p might trigger the breakdown.

Only back above the 110p really cancels the bear threat idea.



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