Investamate

Hurricane Enery - Buying the bottom of the range

Long
LSE:HUR   HURRICANE ENERGY PLC ORD 0.1P
Buy Hurricane Energy ( HUR .L)

Hurricane Energy plc is engaged in the exploration of oil and gas reserves principally on the United Kingdom Continental Shelf. The Company's acreage is on the United Kingdom Continental Shelf, West of Shetland, on which the Company has approximately two basement reservoir discoveries, each containing approximately 200 million barrels of oil equivalent (MMboe).

Market Cap: £827.54Million

Hurricane Energy is trading in a neat range on the daily chart . The support at 38p has held successfully and the shares look set to close above the 10EMA. This could be a sign that bullish momentum is about to return. The upper end of the range comes in at 60.70p which is our short to medium term target.

Stop: 36.4p
Target 1: 60.70p


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