Speculative Oilers: Bowleven, Xcite Energy, Falkland Oil & Gas, Gulf Keystone – when does the pain end?

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It would appear that now Xcite Energy is starting to “do a Gulf Keystone” in terms of a renewed sharp share price breakdown. Just how do we square the price action with the massive reserves this company is sitting on? And will the likes of Bowleven and Falkland Oil & Gas suffer at the hands of the bears in the near term too? View my video here (click the image) to find out my own views or download my book below and see just how prescient I was..

Bowleven (BLVN): 30p Zone Support Initially

A third rebound for the shares from below 30p to start this week

Still in the shadow of a sharp November gap to the downside.

Above 30p on a sustained basis could see 50p zone / November gap recovered over next 1-2 months.

Xcite Energy (XEL): Extended Consolidation Breakdown

80p the bear trigger over the past couple of weeks

2012 to early 2014 price action now seen as mid move consolidation of 2011 breakdown from 400p plus.

Target sub 50p – as low as 40p while no break back above 70p’s zone

Falkland Oil & Gas (FOGL): Extended Triangle Recovery

One year plus consolidation / basing after 2012 breakdown

Higher low for March above 25p completes triple 2013 bear trap rebound

Target to the low 30p’s while 25p zone holds.

Gulf Keystone (GKP): Bear Flag Breakdown Below 10 Day Moving Average

Extended Head & Shoulders breakdown / unfilled gap down triggered latest decline

Recent resistance at and below 10 day moving average a negative technical development

Second leg down towards 2012 price channel floor / 2012 support at 64p.


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