i think it's a bit too early to be using moving averages on this. the announcement was only a week ago and there was way too much speculation and hype surroundng it. this needs to settle a bit before you can start using them meaningfully. logically speaking, you are basically including data from two separate companies; pre-announcement and post-announcement. previously MOG didn't hav much to make a song and dance about... but now they've got (assuming the transaction comes off) a stake in a potentially very large gas find. it's like taking 3 months of data of one company and sticking 5 days of another company on the end of it.
the only thing we can really draw from today (compared to the last few trading days) is that it looks like most of the sellers have disappeared (along with the hype). market depth looks a lot better, small candle and low volume.
imo it's a good buy at 28c for ST speculation
MOG Price at posting:
24.1¢ Sentiment: ST Buy Disclosure: Held
