Pantheon Resources Plc, through its subsidiaries, engages in the exploration and production of oil and gas in the United States.
CONS:
- Earnings have declined by 16.3% per year over past 5 years.
- Highly volatile share price over the past 3 months.
- Makes less than USD$1m in revenue ($0).
- Shareholders have been diluted in the past year.
PROS:
- Whilst...
Small cap stock, listed on London: Aim
100% owned interest in a huge swathe of Alaskan North Slope, and there is quality oil just next to existing infrastructure. It has been a long burn up until this discovery today.
LSE:PANR
Stock is in an intermediate up-trending channel since the June 2021 breakout.
Stock is taking short-term support from the 20ema, but currently under the 9sma
Stock bounced off the daily Ichimoku baseline on 21st October, with a smallish hammer-reversal and signs of a continuation today.
Trade idea calls for an entry at 75p for the retest of the central...
LSE:PANR Pantheon resources is on a major short-term uptrend. Looking forwards, a close above the weekly 200MA looks key to continuing this momentum towards an initial target of 48.4p. Look for the weekly 50 and 150MAs to cross above the 200MA to confirm a long-term move to the upside towards 130p
As this has progressed on the hourly things are beginning to look better. It seems to me likely that we have our waves 1 and 2 set now and this *could* be the beginning of Wave 3 (target shown if so). For this scenario to play out the rising support line should continue to hold.
Impossible to call the next move other than to say it will happen within the next few hours - but is 50/50 up or down. Unfortunately a symmetrical triangle has no continuation or reversal bias.
Possible scenarios:
1. Break up - this will then likely proceed higher on a W3 move
2. Break down. Then we have two possibilities:
i. W2 continues down to 78.6% retrace,...
Rebound from 10-DMA support and a move back above monthly pivot S2 if followed by a day end close above 107.81 (previous day’s high) could yield a move higher to 115.50 (Sep 19 high).
On the lower side, only daily close below 100.00 would open doors for a much deeper sell-off to 90.00 levels.
Check out the detailed fundamental and technical analysis of...
If 80 holds on a retest I like this as a harmonic (Fibonacci) bat pattern long set up.
The long idea is wrong on a close below 67.45 and targets 145 175 and 217.
