88e longBullish wedge set up. MACD about to cross. RSI looking strong. Bearish momentum has peaked and is heading back to zero. Thoughts welcome?
88E trade ideas
88 Energy approaching a critcal phase in Project Icewine. No technical analysis or price predictions. Flow rates to be tested late June/Early July from the Icewine II production test well.
The company is targeting 100-150 Barrels per day.
Managing Director of 88 Energy Limited, Dave Wall commented:
“The spud of Icewine#2 represents another milestone for the Company and its shareholders and we
now look forward to a safe operation, above all else.
It is only a few short weeks before production testing begins, which could unlock the huge resource
potential of the HRZ shale play.”
88E 50DMA break & backtest / fractalExtremely similar break above the 50DMA and backtest to the Jul-Sept 16 period where the price doubled. Exciting news period for the company approaching.
88E new support level > 50% Fib retrace Broken and retested 2.80p which is the 50% retracement level. This looks like a new support level now & crucially brings the upper half of this chart into play.
88E broken & retested 50% fibThis now appears to have fully broken above the 50% Fib line which I consider a real pivot level on this chart. Price seems to have pulled back and retested it as support successfully bringing the top half of the chart into play. I'd like to see a comprehensive break above 3p to bring my first target of 3.8p into play. 161.8% Fib extension looks a very nice secondary goal at 5p.
#88e bull pennant target 7pPotential bull pennant play
Break out extension target of 7p which is also the 161 fib extension
Long term, symmetrical triangle drill hype longAnother long based on diminished sell bias/placing over-hang.
Plenty of hype around this share + long term symmetrical triangle formation.
RSI trending up and price action following.
Entry 2.5p, Stop 2.2p & target of 3.75p gives a R:R of 1:45 (L13% vs P53%).
LONG #88E to target areaTargeting 5p to 5.5p - 200DMA looking to be support for now - Perhaps re consider if this fails on a daily close.
Next well spud in coming months could be the catalyst for a move north
88 Energy and the wait for good news.Some basic indicators on 88e on the London AIM today. Moving towards Icewine II drill in late Q1 will no doubt cause a lot of excitement for long term holders of this company. Any surprise news before then could possibly send the SP nicely north.
88e - Go long.Opec decision, conventional survey results and forthcoming Icewine 2 spud should all be worthy catalysts to create some positive upside short term here. LSE:88E
88 Energy (88E) LongPossible cup & handle consolidation pattern broken.
Looking for the price to move back towards the neckline at around 3.5p as a first target.
Cup and Handle chart for 88 Energy.My very first chart idea so be kind!!!
Can we get back to 3.5p by the end of October?
