PRL - Petrel Energy - Aussie Stock Forums

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  1. #1

    Post PRL - Petrel Energy

    Petrel Energy Limited (PRL) was formerly known as Orion Petroleum Limited (OIP).

    Previous discussion of this company can be found in the OIP thread: http://www.aussiestockforums.com/for...ead.php?t=8859

  2. #2

    Default Re: PRL - Petrel Energy

    Double Top or will it carry on going up?


  3. #3

    Default Re: PRL - Petrel Energy

    Hard to tell. I looked at it on the candlestick chart and sellers were able to push the buyers back. It looks like those some traders decided to take their profits. I would not put any money into this yet since I think it's a pure gamble. That being said, if I was made to take a choice at gun point, I would short the stock. The latest capital raising sold the shares at 0.135. That announcement came out on the 17th. The company outlook at a brief glance looks poor (as are all companies that don't do anything but lose money and raise capital). I would expect it more likely that the price will fall at least to the value of the shares sold on the capital raising. It makes no sense for a share price to rise after equity has been diluted.

    It may be that some traders bought in since of the upwards momentum then the ones who opened the action decide to sell to the ones who do not want to miss out. The price then falls as those traders who purchased at resistance lose money. Next they will get scared and sell driving the price down further.

  4. #4

  5. #5

    Default Re: PRL - Petrel Energy

    Quarterly Activities and Cashflow Report released on the 31st January 2014 - http://stocknessmonster.com/news-ite...E=ASX&N=780074

    140203 - PRLs.gif

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