88E is in a pull back phase. The current level is a decent support which is also a trendline support zone. If price action gets bullish at the current level, between $0.030 - $0.033, I may take a long position. If price fails at the current support and drops, then my 2nd Buy Zone is between $0.020 - $0.023 level. I may wait for bullish price action with...
88E has managed to close above the long term Bearish Trendline with apparently much heavy volume. The bounce off the POC of Volume Profile, Bullish MACD and the breakout all indicate that the price is expected to continue to the upside. I am bullish 88E with my targets below:
TP1 - 0.015 (Potential gain 35%)
TP2 - 0.019(Potential gain 67%)
$88E.AX do not hold any however it has very nice setup $88E
88 Energy Limited (88E, formerly Tangiers Petroleum Limited) is an oil and gas exploration company which has exploration permits located in Alaska, North America. The major focus of the company is on Icewine project in Alaska.
Some basic indicators on 88e on the London AIM today. Moving towards Icewine II drill in late Q1 will no doubt cause a lot of excitement for long term holders of this company. Any surprise news before then could possibly send the SP nicely north.