#FTSE #France A chum once explained something important about his hobby. It’s called “Fishing” because of the doubt over any success. Otherwise, it’d be called “Catching”. Hurricane seem to fall into a similar mindset, oil exploration being the focus rather than oil extraction!
Regardless, due to the lacklustre oil price, it’s pretty certain Hurricanes share price would be a shambles no matter what they were up to. Low oil prices will doubtless make some of their discoveries unviable at the present and we’re not seeing any immediate relief on the horizon for the oil market.
However, Hurricane does not require a great deal of movement to hopefully trigger some share price recovery. At present, the share is bouncing around the 5p level, needing above 6.6p before we’d dare suspect it’s about to trigger something useful.
Next above 6.6p calculates with an initial ambition of 8.5p with secondary, if bettered, up at 9.1p and almost certain hesitation. Only with closure above the 9.1p level shall we feel a glass ceiling has been pierced, one capable of producing some “proper” recovery toward a future 13.7p and beyond.
Alas, it’s also worth remembering the share price is languishing in a zone where we cannot calculate any further drop targets. The Big Picture makes this impossible, thanks to the price managing below our ultimate bottom number of 11p. At present, this is not a happy share.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
8/09/2020 FTSE Closed at 5930 points. Change of -0.12%. Total value traded through LSE was: £ 4,474,047,176 a change of 45.17%
7/09/2020 FTSE Closed at 5937 points. Change of 2.38%. Total value traded through LSE was: £ 3,081,866,920 a change of -35.14%
4/09/2020 FTSE Closed at 5799 points. Change of -0.87%. Total value traded through LSE was: £ 4,751,494,897 a change of 11.8%
3/09/2020 FTSE Closed at 5850 points. Change of -1.52%. Total value traded through LSE was: £ 4,250,184,579 a change of -2.94%
2/09/2020 FTSE Closed at 5940 points. Change of 1.33%. Total value traded through LSE was: £ 4,378,771,754 a change of -24.99%
1/09/2020 FTSE Closed at 5862 points. Change of -1.69%. Total value traded through LSE was: £ 5,837,308,187 a change of 19.78%
28/08/2020 FTSE Closed at 5963 points. Change of -100%. Total value traded through LSE was: £ 4,873,414,475 a change of 0%
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