It’s not often a share trading code sparks a search but Nostrum managed it. Their moniker, NOG, rung a very faint bell and an immediate assumption Nog was a character from Lord of the Rings. This turned out to be a big nope. Nog was a character in a Star Trek spin-off. It’s amazing how trivia from nearly 30 years ago remains in a little pigeon hole of memory, making it questionable just why the human brain decides something is worth retaining!
We received a couple of emails asking our opinion on Nostrum and despite an initial temptation to reply “big ears, dodgy forehead”, it was deemed proper to do a little more research beyond satisfying ourselves who “Nog” was. Nostrum Oil & Gas, headquartered in London, listed on the FTSE, are a Kazakhstan producer and judging by their history, on the go since 2004 and listed since 2013. Their listing recently moved from ‘Premium Listing’ to ‘Standard Listing’ and if we’re honest, we’ve no idea what this shall mean for the share price.
However, it certainly appears something may be happening.
The chart below has a circled area, delineating something odd which occurred toward the end of May. The share price did a little dance for a few days, it transpiring the price exceeding 6.576p at that particular time was significant. The light blue trend describes something we usually ignore, a really big picture downtrend from a time in 2014 where Nostrum had a share price of 825p. This sort long distance trend line from an impossible high is generally an obstacle a share price treats as invisible but on this occasion, there were a series of price movements which tend indicate the market was perfectly aware of what just happened.
Okay, maybe this sort of thing is fascinating to just us, but when the market reacts to an event, it’s always worth pausing for thought and wondering why.
Secondly, the last couple of sessions have witnessed the share price break through the Blue downtrend since 2019, yet fail to close above the trend. Our chart inset highlights the share price is carefully mirroring the Blue trend line. We’ve a theory, should the share price now exceed these breakout levels, some positive action can be anticipated.
If our suspicion above proves correct, it’s probably safe to view the Bigger Picture chart below. Currently, above 8.85p can allegedly suggest movement to an initial 12p with secondary, if exceeded, a rather more impressive 15.4p. Obviously, if playing safe, closure above Blue (presently 8.5p) will make a lot of sense but in this instance, if our guess about the wider market paying attention is correct, any movement is liable to prove rather quick.
Visually, there’s a fairly strong hint the 15p level should provide some sort of glass ceiling for future rises but we can risk suggesting, closure above 15p is liable to prove quite game changing as a third target level at 26p makes itself very possible.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
21/06/2022 FTSE Closed at 7152 points. Change of 0.44%. Total value traded through LSE was: £ 4,635,756,984 a change of -23.37%
20/06/2022 FTSE Closed at 7121 points. Change of 1.5%. Total value traded through LSE was: £ 6,049,529,686 a change of -50.99%
17/06/2022 FTSE Closed at 7016 points. Change of -0.4%. Total value traded through LSE was: £ 12,344,389,846 a change of 36.38%
16/06/2022 FTSE Closed at 7044 points. Change of -3.15%. Total value traded through LSE was: £ 9,051,276,874 a change of 32.71%
15/06/2022 FTSE Closed at 7273 points. Change of 1.2%. Total value traded through LSE was: £ 6,820,318,073 a change of -14.4%
14/06/2022 FTSE Closed at 7187 points. Change of -0.25%. Total value traded through LSE was: £ 7,967,426,420 a change of 8.5%
13/06/2022 FTSE Closed at 7205 points. Change of -1.53%. Total value traded through LSE was: £ 7,343,380,444 a change of 22%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at firstname.lastname@example.org. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:CASP Caspian** **LSE:DDDD 4D Pharma** **LSE:FOXT Foxtons** **LSE:HUR Hurrican Energy** **LSE:NG. National Glib** **LSE:RBD Reabold Resources PLC** **LSE:RKH Rockhopper** **LSE:RR. Rolls Royce** **
Updated charts published on : Caspian, 4D Pharma, Foxtons, Hurrican Energy, National Glib, Reabold Resources PLC, Rockhopper, Rolls Royce,
LSE:CASP Caspian. Close Mid-Price: 5 Percentage Change: + 7.53% Day High: 5.05 Day Low: 4.65
Above 5.3 is liable to prove significant, provoking an initial 5.85 with s ……..
LSE:DDDD 4D Pharma Close Mid-Price: 16.5 Percentage Change: -32.52% Day High: 26.15 Day Low: 16.7
Target met. In the event 4D Pharma experiences weakness below 16.7 it cal ……..
LSE:FOXT Foxtons Close Mid-Price: 33.95 Percentage Change: -3.41% Day High: 35.15 Day Low: 33.55
If Foxtons experiences continued weakness below 33.55, it will invariably ……..
LSE:HUR Hurrican Energy. Close Mid-Price: 7.5 Percentage Change: + 30.43% Day High: 7.5 Day Low: 6
Above just 7.75 now allows for price recovery to an initial 8.7p with seco ……..
LSE:NG. National Glib Close Mid-Price: 1028.5 Percentage Change: -0.92% Day High: 1042 Day Low: 1020
Continued weakness against NG. taking the price below 1020 calculates as ……..
LSE:RBD Reabold Resources PLC Close Mid-Price: 0.29 Percentage Change: -9.38% Day High: 0.32 Day Low: 0.28
Something is finally happening, though not particularly good. Below 0.28 i ……..
LSE:RKH Rockhopper Close Mid-Price: 7.2 Percentage Change: -4.00% Day High: 7.22 Day Low: 6.9
In the event Rockhopper experiences weakness below 6.9 it calculates with ……..
LSE:RR. Rolls Royce Close Mid-Price: 90.83 Percentage Change: -0.73% Day High: 92.79 Day Low: 90.89
Further movement against Rolls Royce ABOVE 92.79 should improve accelerat ……..
*** End of “Updated Today” comments on shares.
This post has already been read 98 times!