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BRU - Buru Energy

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Anyone still following BRUs progress and upcoming drilling program?

Gees Notting, shame you closed out at 1.84, fell all the way down to 31c.

Charts looking extremely good although i'm no expert and my old mate Techa may have a minute to run his eye over. (please)

Worth keeping an eye on IMO.
 
Assasin said:
Gees Notting, shame you closed out at 1.84, fell all the way down to 31c.
Click to expand...

Yeah it was a bit week. I did hold onto some, but I think I cut out of that at around 1.45.
It was showing some support there for a bit and looking at what it did last time I did not want to be on that squeeze.
Got distracted after that.
 
notting said:
Yeah it was a bit week. I did hold onto some, but I think I cut out of that at around 1.45.
It was showing some support there for a bit and looking at what it did last time I did not want to be on that squeeze.
Got distracted after that.
Click to expand...

Yep, makes sense. There were upward spikes all the way down.

Think it's quite bullish at the moment.
 
Weeellllll?
At best it may make a double bottom so see what it does if it tests the April low.
Otherwise it's just failed to get up over it's recent run up.
 
Some good news today and an appropriate rise. With the beginning of this new drilling program i dont envisage SP in the 40's for long.
Having said that, i would think a minor consolidation/ retrace may be in order after 2 days of rising.
 
Anyone know whats going on with Bru energy? Stock dropped 6.67% today.
I would expect with the targeted 3,000Bpd the market would react positively, but so far seems to have reacted in the opposite direction
 
Could not believe that BRU thread was not visited for about 4 years.
Any way, there have been some interesting stories going on with BRU. I visited Broome back in December 2018 and found the locals were highly dependant on businesses received from BRU. Good sign of engaging locals.
BRU has been consistent in publishing their stories.
Story published on 21st May https://www.asx.com.au/asxpdf/20190521/pdf/4457vmg36tttqh.pdf was without any excitement or comment but the market price rose up by 28% on Friday (about more than 25% increased volume than previous day) and then again market price rose 6.5% today 27 May before it closed trading https://www.asx.com.au/asx/share-price-research/company/BRU https://www.asx.com.au/asxpdf/20190527/pdf/445dcdvh3fm90w.pdf
I am a holder. But in all probability, sleeping ASX should have sent a speeding ticket on Friday itself due to price and volume being exceptionally high . But slack ASX would now watch to see the reason for trading pause before issuing a speeding ticket :)
Interesting steps to go through and if it was a bad news to call the trading off, save me :)
 
Trav. said:
@Miner hopefully good news for you mate and it can continue it's run up.
Click to expand...
Since @Trav. and I exchanged our messages, ASX did issue a speeding ticket.
https://www.asx.com.au/asxpdf/20190527/pdf/445dfqfgx00vd1.pdf
Reading the response, I believe the price of BRU after the withdrawal of trading halt / pause will be on south. Company officially mentioned no additional involvement from Twiggy (his investment was less than to be calling substantial investment made back in late March 2019) nor any substantial drilling outcome. So proactive investor probably just created some hype on old information to get market excited and they achieved the mission by getting some good sales from people who knew.
My speculation after trading pause (no halt was declared however) is withdrawn, the reaction of market will have heavy volume and south wards price.
Damn, should have sold out today morning trade but crystal ball is only on dream .
 
Miner said:
Damn, should have sold out today morning trade but crystal ball is only on dream .
Click to expand...

I'm not sure about that mate. I have had a quick look at the presentation they are rolling out and it looks positive. Money in the bank, drilling in progress with more planned plus Twiggy sniffing around with his fat wallet could push this to the 52wk high of 38.5c (closed today 33c).

I reckon you will get a chance to cash in if you have reached your profit target or move that stop a little closer :2twocents
 
Trav. said:
I'm not sure about that mate. I have had a quick look at the presentation they are rolling out and it looks positive. Money in the bank, drilling in progress with more planned plus Twiggy sniffing around with his fat wallet could push this to the 52wk high of 38.5c (closed today 33c).

I reckon you will get a chance to cash in if you have reached your profit target or move that stop a little closer :2twocents
Click to expand...
Thanks @Trav.
All good. If BRU helps me and rest of the investors on a sustainable basis, then why should I pay taxes for capital gain :)
On logistics pattern, their steps have been good. Engaging stakeholders has been good. So my expectation is the owner of the company are moving strategically than to become fly by operators. But that what we all think and it is only result and final outcome in next 12-18 months could say, if strategies worked or not.
Lets watch the space and rely on Twiggy's luck :)
 
Just catching up from yesterday's postings on BRU.
It rose up slightly and then went down after weekly drilling result did not provide any sudden gain story
https://www.asx.com.au/asxpdf/20190528/pdf/445dw2hlf5yhxf.pdf
The volume of transaction is already more than 1.5 millions suggesting people who jacked the price on last two days, are using the opportunity.
Probably it will settle down further tomorrow to compensate the sudden gains as there is no secret now and all speculation on Twiggy story (which is dated) and some bright shorter floated the rumour.
https://www.asx.com.au/asx/share-price-research/company/BRU
My guess is BRU could go down further to stabilise.
That gives me an opportunity think of tipping BRU for June Month. By the end of June the drilling results will converge into a bad or good story.
Still holding instead of selling out on panic contrary to my mind set when the stock went into halt .
 
@Miner I have been thinking about this stock and your situation in regards to trading it or investing. As you might have read lately there are many ways to handle your position but a few thoughts on what I have found in this situation as I have missed out on some profits when the SP retraced

Theoretical trade
1. Buy BRU on the 1/5/2019 for 25c
2. SP moves up rapidly on the 24/5 and you are in profit
3. Add trailing stop to lock in 20% profit (depends on what makes your happy with the trade)
upload_2019-5-28_19-4-43.png
4. If stopped you have minimum of 20% but could have been a bit more
5. Watch retrace and buy back in @ 25 / 26c

upload_2019-5-28_18-43-37.png


The above sounds pretty simple but I had (have) a fear of missing out (FOMO) on more profits but you have to be happy with a win, actually any win really. Some talk in % others talk Risk, but same thing really, as you need to have a profit target, secure it and be happy with it.

I don't want the above to come across as telling you how to suck eggs but I am still learning and I have found this helped me recently on one trade then I promptly forgot that lesson and missed another opportunity to take 30% profit, and now I am holding at break even which leaves me with two options
1. Continue to hold and wait for next run
2. Exit trade and move funds to next opportunity.

Anyway mate good luck with your trade.

Trav
 
Trav. said:
@Miner I have been thinking about this stock and your situation in regards to trading it or investing. As you might have read lately there are many ways to handle your position but a few thoughts on what I have found in this situation as I have missed out on some profits when the SP retraced

Theoretical trade
1. Buy BRU on the 1/5/2019 for 25c
2. SP moves up rapidly on the 24/5 and you are in profit
3. Add trailing stop to lock in 20% profit (depends on what makes your happy with the trade)
4. If stopped you have minimum of 20% but could have been a bit more
5. Watch retrace and buy back in @ 25 / 26c

View attachment 95015

The above sounds pretty simple but I had (have) a fear of missing out (FOMO) on more profits but you have to be happy with a win, actually any win really. Some talk in % others talk Risk, but same thing really, as you need to have a profit target, secure it and be happy with it.

I don't want the above to come across as telling you how to suck eggs but I am still learning and I have found this helped me recently on one trade then I promptly forgot that lesson and missed another opportunity to take 30% profit, and now I am holding at break even which leaves me with two options
1. Continue to hold and wait for next run
2. Exit trade and move funds to next opportunity.

Anyway mate good luck with your trade.

Trav
Click to expand...
That's an awesome analysis and nice thoughts . I really appreciate it.
Yes, fully agree with your analysis and many thanks.
I am a novice on charting but somewhat better than I was four weeks back. Started reading books and articles to understand charts and the terminology to relate the postings. It is a slow learning curve however because there is no short or quick learn on this technique . So I always listen and try to understand chart analysis.
I am putting my tip for June 2019 as well electing BRU :)
Have a nice weekend and if you are in WA, enjoy the long weekend
Regards
Miner
 
Some of those volatile breakouts can be hard to manage.
Often if I see weakness in the next bar I'll set a tight stop like Hawks has demonstrated and then find a way to get back in - whether its the break of a 5 day high, or a lack of selling pressure.

But Im often having to go long a second time on those explosive breaks after having been stopped out from a retrace. You could trade the first explosive entry on a daily or lower timeframe, and if you time it well a second entry might set up a better position for weekly bars - maybe...might be something to test out.
 
BRU appears to be breaking out. We will see if my interpretation of newly learned knowledge turns out to be anything more than Bullsh#t.

Investor Centre | Buru Energy Limited

Buru Energy Limited is an ASX listed Australian oil and gas exploration and production company solely focused on exploring and developing the petroleum resources of the Canning Basin, in the southwest Kimberley region of Western Australia.
www.buruenergy.com www.buruenergy.com

bux
 
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