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Long

PVR - Providence Resource - Buy

LSE:PVR   PROVIDENCE RESOURCES PLC ORD EUR0.10
86 0 2
Today has seen 10 times the usual volume on PVR             after a news release on the Frontier exploration licence.

RSI an STOCH oversold. Price has rejected from the 200MA and .5 on the FIB. Decent financials,

This is a strong level to buy.

Entry at 16.
First TP 19
Second TP - 25
SL - 14.
Comment: In at $15, stops as above
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