UOG looks like a little gem. Fundamentals are very good. Excellent management and lots of exciting prospects including the BIG BOY in JAMAICA! 3d should be out soon. Im invested here but below is a trading idea
As far as technical s we've had a nice double bottom, RSi div with a break and close above. Pull back into a 61.8 % retracement and a new higher high, ...
Price is holding above the 200ma and at bottom of swing
we touched the 50% retrace of ATH and holding them.
Company has several assets and more in the pipeline
good cash position having done a placing at 4.25p not long ago.
See loads of upside here.
Trend line broken
It held above the 0.5 fibs and now above 0.386
ascending CCI and broken above last RSI resistance
my 1st target is 7.74p where I will slice or sell all depending on news.
Oil price is at great level at moment.
Strong support at 4.20p below last placing price.
200ma, 50%fibs, RSI ascending trend and placing price all a big factor for a bounce.
We should hold this level but if wrong then 61.8% is a possibility, I would doubledown if so.