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Leni Gas & Oil: Bull Flag Above 200 Day Moving Average Targets 1.40p

By The Closet Chartist | Tuesday 11 February 2014

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.

Leni Gas & Oil (LGO) has traditionally been something of a tough cookie for technical analysts to bite into. Penny stocks are usually problematic, but good old Leni can be particularly problematic. This is not only due to liquidity issues, but also because of the volatility that stems from most companies in the resources space.

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