Hurricane Energy (HUR)

 

Targets for oil prices and Hurricane Energy

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Targets for oil prices and Hurricane Energy

Brent Crude, Hurricane Energy (LSE:HUR)

We last commented on Brent back in February, our throwaway suggestion implied the price needed to better $74 to be taken seriously. Currently trading around $71, it's close but still needs to be above $74 to start a cycle to $89.

Broadly speaking, this ties in with the oil producers section, the sexily named NMX0530. It's trading at 8,740 and looks to be on a path toward 8,940. Only if it actually trades above 8,940 do we feel our "Brent at $89" dare be taken seriously.

Hurricane Energy (HUR) was last reviewed on 10th January where we'd proposed some movement to 42p. Amazingly, rather than being long term, this target was achieved just a few sessions later on the 16th.

It still requires better 42p before investing in party poppers becomes a reasonable proposition but now, traffic above 42p indicates some fairly near term growth to 47.75p next with secondary, if bettered, at 50p.

From our perspective, a future above 50p will mean arithmetic influences have moved from 2018's movements to bigger picture influences, meaning 56p and hopefully beyond can be planned.

The share price needs to break 27p to shatter our illusions, along with provoking 19p initially.

Source: interactive investor             Past performance is not a guide to future performance

Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.


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