INP - Innamincka Petroleum

[lioness]

Cap raising announced today and market liked it. 14 new fund institutions came on board and it was oversubcribed.


Should hold up now with new exploration advancing in december.

[lioness]

What are people's thoughts now on INP, I think it is holding up very well considering the ASX correction. If it can sustain above 1.17 it should return to move to a higher level.

Any chartists opinons are welcome.

[long$$]

Quote: Originally Posted by lioness What are people's thoughts now on INP, I think it is holding up very well considering the ASX correction. If it can sustain above 1.17 it should return to move to a higher level. Any chartists opinons are welcome.

[long$$]

Quote: Originally Posted by long$$ The price seems to be sinking inexoribly towards $1.17. Talbot, Numbla Vale, Wecker are ceasing to be substantial holders. I think that they would hang on if they saw quick gains coming. I wonder if BHP/RIO & Fortescue are soaking up interest that might otherwise help INP.

[lioness]

Long,

It is only ceased due to cap raising, chart wise following candlesticks, it looks like it is hammering out a bottom.

My take on it is it is getting ready for a move up or down in the next 1-2 weeks as it has gone sideways for one month.

No chartists on here willing to give an opinion to help me????

[long$$]

Quote: Originally Posted by lioness Long, It is only ceased due to cap raising, chart wise following candlesticks, it looks like it is hammering out a bottom. My take on it is it is getting ready for a move up or down in the next 1-2 weeks as it has gone sideways for one month. No chartists on here willing to give an opinion to help me????

[dj_420]

From the 3 month chart we can see a number of things:

The sp had found support at 1.22, which tested and held 3 times but actually broke through that short term support mid November. The chart shows it has been making lower highs and now with break of support lower lows.

It formed a descending pennant which we could have seen a break up or down which we have seen break down.

Volume is tapering right off and the MACD does not look like the downtrend is slowing down at all yet.

Stochastics show that the sell down has been slow and steady and does not look oversold at all, sitting right in the mid range.

The positives are that it has not been sold down on volume, although there is very little support chartwise now, maybe at 1.12 but that is very very short term support and I would not expect that to hold in the event of a sell down.

Could be a case of punters waiting for further news before buying in and impatient holders are slowly selling off the stock in small volume.

[long$$]

Thank you dj_420. Can you please point me to a site that explains the plots & terms. .................................................. .................................................. ...........................

[lioness]

Cheers DJ, but to me it is being accumulated as there are large sells going through the day. Definitely waiting for news though.

[chops_a_must]

Quote: Originally Posted by dj_420 From the 3 month chart we can see a number of things: The sp had found support at 1.22, which tested and held 3 times but actually broke through that short term support mid November. The chart shows it has been making lower highs and now with break of support lower lows. It formed a descending pennant which we could have seen a break up or down which we have seen break down. Volume is tapering right off and the MACD does not look like the downtrend is slowing down at all yet. Stochastics show that the sell down has been slow and steady and does not look oversold at all, sitting right in the mid range. The positives are that it has not been sold down on volume, although there is very little support chartwise now, maybe at 1.12 but that is very very short term support and I would not expect that to hold in the event of a sell down. Could be a case of punters waiting for further news before buying in and impatient holders are slowly selling off the stock in small volume.

[lioness]

Hello Chops,

Does the B bands indicate that because they are so tight, it will either break down below them or bounce off them very soon??

It acted the same way last time before it exploded, looks the same now.

[dj_420]

Quote: Originally Posted by chops_a_must I actually like the chart on this one DJ. I don't think it is down-trending, especially considering the overall market, but is rather being consolidated. Reminds me of AED before a couple of its huge breakouts. Has support about 1.125 - 1.13 and any break through there might be fatal... but these enormous breakouts on volume don't tend to reverse for a while. Anyway, someone that likes the B bands might take an interest in a set up like this...

[lioness]

Dj,

look like you were the one who was right, what a disaster for me, never though it would drop 30%. I have decided to stay in though as the downward wedge looks like a sharp rebound may occur.

I expect them to announce a significant upgrade in Jan and surprise the market also.

[dj_420]

I like these guys but would like to see a different chart before buying in, slowly but surely drifting lower and lower.

When do we get some news on recovery rates etc? Or upgrade?

[dj_420]

Quote: Originally Posted by long$$ Thank you dj_420. Can you please point me to a site that explains the plots & terms. .................................................. .................................................. ...........................

[lioness]

Quote: Originally Posted by dj_420 I like these guys but would like to see a different chart before buying in, slowly but surely drifting lower and lower. When do we get some news on recovery rates etc? Or upgrade?

[daaussie]

and INP awakens after that huge prior oil discovery, down to 90 cents, then, $1 yesterday up to 1.06 and today up to 1.20

something is here (in my opinion)>

[daaussie]

lioness, your hunch paid off in very little time. pay day for INP holders in my opinion!

We will see what happens next!

[lioness]

Quote: Originally Posted by daaussie lioness, your hunch paid off in very little time. pay day for INP holders in my opinion! We will see what happens next!

[lioness]

Hi DJ,

Can you please give an update on your chart analysis on INP.

I think on Friday it turned the corner and a new uptrend is in place.

What are your thoughts now??

If it can break 1.50 we may well see this head much higher.

What do you think.

Anyone else care to help me??