Trading Trigger Alert: Falklands Oil & Gas (FOGL) Above 55p Targets 75p

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Falklands Oil & Gas (FOGL): One Year Price Channel Support

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Despite recent erratic price action shares of Falklands Oil & Gas are still in a rising trend channel on their daily chart since October last year. The support line of this channel currently runs through the 60p level, and is so far holding. This suggests a “final” buy point for bottom fishers of the stock, to target a rebound towards the current position of the 200 day moving average at 75p. Below 55p would probably cancel any last bull scenario for the stock in the near term.

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