Senex Energy's share price has fallen roughly 1/4 from its October peak, but Morgans sees a solid chance that the Aussie oil-and-gas producer's stock will soon gush higher. It points to technical charts showing the relative strength index and the moving average convergence divergence indicators reaching oversold territory. "Given the proximity to dynamic support and the oversold momentum conditions, we are comfortable to start accumulating the stock around current price levels," Morgans says. Senex ended trading on Thursday at A$0.40, and Morgans thinks the stock could rally 13% to A$0.45.
SXY Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
