DLS 0.00% 69.0¢ drillsearch energy limited

Good discussion on the fundamentals. While I bought this on a...

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  1. 8,420 Posts.
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    Good discussion on the fundamentals. While I bought this on a fundamental value perspective (and in spite of my technical rules which say don't buy a falling knife), I bought with a long term view about POO and DLS is leveraged to POO which imo is at/near bottom.

    From a technical perspective, my original position is there is still downside possible (as with all falling knives), and my view is its in the 36-44c region based on the following:

    2015-09-23 DLS weekly.png

    Should I have just been patient and waited for the technicals to support the buy - probably - but with a timeframe of 12 months the upside is more probable than the downside at this level (assuming my view on POO is correct).

    Cheers, Sharks.
 
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