A very strong close on the weekly high on relatively large volume paints a classic break out picture. Check out the weekly chart - its got bullish written all over it. Distinct possibilitly of seeing momentum traders buying into this next week especially after they run their software over the w/end examining weekly price action and it spits OIP out at or near the top of the list. A quick heads up on the sell queue. See the 3 orders at 13.5c, 14c and 14.5c? Each is for 100k. Well I saw those orders hit the screen earlier this week and they were all put on simultaneously! Thats right - the 3 orders are by the same seller. Why would anybody stuff about trying to create the false impression that there are a big bunch of sellers in the queue? So he can trick mugs into selling and buy as many shares as he can at lower prices!!! Next week assuming no catastrophe in the broader market and drilling kicks off on w/end am looking for a test of the all time high at 16.5c. Oppies should move to around 5 to 6c a pop. I might add even at 16.5c it will still be 3.5c below its IPO price and only slightly above its cash backing.
OIP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held