Sound Energy - SOU

An interesting Gas play with lots of news imminent

i13.photobucket.com/albums/a272/ademcg/Sound%20Energy.jpg



Currently reaching an important chart point, will it break the 18.48p Fib ? Push on ?
lots of the indicators, RSI, Stochs and MACD point to a positive push.

Very interesting chart...with the recent peak of 26.73p coinciding with the 261.8% fib extension of sp from Sep 2013 on the weekly chart....such fun

Thoughts appreciated

Looks Like it has some potential, especially if it clears that high at 18.48p

support...15.52,,12.5
Resistance....18.48,,,19.09(trendline),,,19.66,,,20,,,21.75,,,25,,,26.5

as can be seen from chart there are loads of resistance ahead.This has to clear 26.5 before any real strength can come in.
im out of all shares for the time being until i see an end to the bear market.

dl.dropboxusercontent.com/u/4899609/soundoil.png

Thanks for the thoughts guys....

An interesting day...increase in volume...no DMA for me so I can't tell if it is on the buy or sell side.

s13.photobucket.com/user/ademcg/media/So...%2028%20Jan.jpg.html

This doesn't look bad, the setup is bullish....
However i see a issue, not going to say this is not going up....very possible it will, but if we look at the Monthly(our Master Wavesurfer did always say look at the weekly/monthly charts)

You can see this is bang on the trendline resistance. So you have a trendline below, and a trendline above.
Whichever direction this out breaks with a monthly close, will be where its heading mid to long term, so i would wait for this before taking a position. just my honest opinion and wdik.
ATB
Trendfriend.

thanks TF...good spot...just added the weekly trendline (I did consult the weekly in-line with our charting code of pratcise , but missed the line draw )

Hopefully the expected news flow will push / drive this in the bear term (profit taking 25 +p) is my initial plan given the news flow and I hope associated sp movement:

New flow - potential sp drive events

1. Nervesa Gas (next week announcement due)
2. Badile permit (2nd week Feb)
3. Possible Badile Farm in.(follows point 2 above)
4. Sidi Moktar news
5. Tendrara groundworks rig on site and spud
6. It is one of Malcy's fav shares at the moment - he regularly reports on it update article due
7. Roadshow to New York at the request of brokers for thee days of meetings Breakfast, Lunch and Dinner, this share was up 25% after the first NY roadshow, second one a bit of a flop but 6% of shares now held by US investors.

Interesting times