SLE

www.investegate.co.uk/san-leon-energy-pl...201211120700548533Q/

Perhaps the merger between SLE and Aurelian was the reason for the volume observed?
Not sure this will translate into higher share price, today.

AdeMcG,

Looks like this was a false rise as it directly affected the price level of the merger.

Market in SLE shares is relatively low volume so by expending less than £250k they could have had a material affect on the merger terms.

Todays drop is with volume.

Both shares down as the market realises that both are in the same position, good assets, low levels of production and cash.

I should have exited at the open but slow to get on computer this morning.

Not so sure about that R

Penny shares...
That's the downside of these.
Too volatile .

remo,

Some hot money has exited this share because the news came.

The SP hit a low of 8.02p at 0815

But since then on the 15 minute chart it is ticking back up nicely.

I know RNS can upset the chart, but this news is not disastrous and the uptrend could continue.

It is a complex deal and the real analysis will not be completed for several days.

I would exit if 8.00p is breached. But until then.

This might not be too bad now:



dl.dropbox.com/u/20815047/SLEdaily14_11_12.gif

Yesterday formed a hammer at a level which has had lot of volume in the past. It also looks to have formed bullish RSI and MACD divergences. I think it's going to need to make a new high above the hammer top before we can get too excited though.

Maybe not the end of the world though for those, like me, who got caught out in the false breakout...he said hopefully!