Brent heading to $60 area with China struggling. Maybe the EPL is amended around May/June 2024 or M&A happens. Enquest shares have support at around 9p but hopefully 12p holds.
Using previous support/resistance lines and the trend from the previous rise. Assume Brent his heading to the $150 area due to supply cuts, under investment and rising demand.
There appears to be a downward trend line that need to break above 17.4 pence
Super cash flow and big winner on this oil price.. possible break out of a 6 year old resistance trend line 48 000 - 52 000 Boepd per day $500-600M profit expected on $65 hedged oil price (180 days) 1280M debt as of 1/1 2021, payed back in 12 months.. Market cap $500M
Clearly an RSI break out & set to move higher. looking for 26p 1st target - 31p 2nd target Not holding at moment but bullish.
Enquest is making a perfect ascending triangle pattern. Will it break to the upside? Watch and see.
Do not miss this opportunity. following week oil price, this share price has dropped. make a most of the situation.
Cup and Handle formation on ENQ getting ready for next major impulsive wave? As always, please check fundamental data *( Enquest is in the Oil industry and had a few tough years)
Multi-confluence technical Nice rejection bar from 200ma and closed gap-up on very high volume.