Petro Matad Ltd (MATD) #matd Gap fill to 5.25p Petro Matad Ltd (MATD) #matd Gap fill to 5.25p
A large gap to fill all the way up to 5.25p.
MATD trade ideas
Bullish to 7.5p-8p 200ma / 50ma resistance #mfchart5p is support area and great for entry opp if it ever comes again (bear in mind spread so at times it's best to buy at 5.10p / 5.15p)
if 5p is lost then bail as it could get back to 2p.
I would look for 7.5p-8p target for a profit slice once we close above 6.42p
Holding the trend - updated chart - 17p targetWaiting for next swing, so far it's looking really good for a run towards 14.9p resistance and hoping to break with the right news.
Holding from 10.8p 2nd entry.
1st Target 16.80p - back above the 20ma now - LONG - Held well above the 50% fibs and now above the 20ma. Looking good for a move as CCI is pushing higher at moment.
MATD Petro MatadBought previously at 8p and sold at 12.4p, now back in at 10.81p with a bigger target of 19.62p
10.5p is very good support where the 50% fibs lie.
MATD Long1st Target 19.42p
Entry: 10.81p
Profit over 85%
Market Cap = $87.49m
Wild Horse 290m barrel discovery NPV10 projected* estimate of ~$2.5 Billion
= 28x required to reach NPV10 estimate for Wild Horse
last week of Q1, 3D soon, Rig mobilisation and Drill updates due probably this week.
Key points:
1. Mongolian Government is in alignment with #MATD* with:
Desire for energy independence
$1bn Indian loan for O&G infrastructure
Oil Refinery capacity to fill
PSC Terms
*Think permits: friction-less government interactions, especially w/ Petrovis (28.1% sh)
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