OSH - Oil Search

[Sean K]

Thanks kennas, can always rely on you for a decent reply! However I think you meant $3.75
I will let you do the honours of putting it in the potential breakout thread.

Cheers

LOL. What's on the agenda to push it through do you think? Oil through $70? positive PNG LNG news? Discovery in Yemen, Egypt, Iraq? Takeover by WPL, Excon, China? China seem to have their nose in and around PNG. Closeish to home for them??

I note in one of their last presentations the MD was going on about doubling company value by 2010. So, double the sp? OK Not sure how he's going to do that without some significant discoveries in the Middle East or Nth Africa, as PNG is declining from 2010. Perhaps he means double to 2010, and then reduce?

 

[The Mint Man]

Well what a day for OSH, closed at $3.80 seems I was right on the money asking when this one would move.
They have alot on this year and I am confident that things will start to happen. Im holding to 2010, thats what I said from the start. I also said that I can see them doubling.... time will tell!

 

[theasxgorilla]

Yep, today's daily close is the highest in 9 months. And on 2.5 times (approx) average daily volume and being the 3rd highest daily volume since October last year one can probably conclude that there was strong buying interest today.

The volume illustrates that it took quite a bit of force to break through (out of) the significant support resistance zone of $3.70/.76. But that level is extremely historically significant, so it figures that it would take a lot of buying to break free.

Trading above the 200-day SMA, but that MA is not yet flat or pointing up. Not a deal breaker IMO, just an observation.

Let's see if we get a strong weekly close, outside the consolidiation zone, at the high of the bar, with further high volume.

 

[Sean K]

Looks like it's respecting $3.75 intraday, and I'm more positive that it's broken up from the ascending triangle. Volume looks good also.

 

[The Mint Man]

Closed strong again today at $3.88. Other oil companies on my watchlist hardly moved or even went backwards. Im really happy with OSH's performance over the last couple of days, and since I bought them for that matter! I got in when they were $3.25 so Ive made about 19% since then.
I think theres more to come

 

[The Mint Man]

Up over $3.90, I Think we might see $4.00 this week. If so that would be the first time its been there since Aug 06.... OSH has come a long way since then.

 

[The Mint Man]

Im not a techy but I would say that OSH has found a bit of support at $3.90 after surging above $3.90 last week up to a high of $3.98.
OSH has closed at $3.90 over the last 3 days and on monday it closed at $3.92.
So would I be right in saying it has found support?

Cheers

 

[Sean K]

Im not a techy but I would say that OSH has found a bit of support at $3.90 after surging above $3.90 last week up to a high of $3.98.
OSH has closed at $3.90 over the last 3 days and on monday it closed at $3.92.
So would I be right in saying it has found support?

Cheers

MM, I think support is still at $3.75 and it could still find it's way to there in the short term. This would also be in line with the most recent upward trend support line.

Fat Profits put a buy on this last night at $3.88 ish. I've picked up some more based on the upward trend, and expected support at $3.75, plus the general bullishness of the energy sector.

 

[The Mint Man]

You have to stop scareing us like this Kennas.... I think your pic is meant to say 'support at $3.75'? not $2.75
I think those clown fish have gone to your head

Cheers

 

[Sean K]

You have to stop scareing us like this Kennas.... I think your pic is meant to say 'support at $3.75'? not $2.75
I think those clown fish have gone to your head

Cheers

Good day to buy! Will be interesting to see how overseas goes tonight on the China ripple. I expect that most will have some memory of Feb 28 when the general market shuddered because of a rumour. So, maybe not too much of a drama. So, perhaps at worst a good excuse for another short correction that we have to have. Perhaps our $3.75 support line will be breached but I think the short/medium term trend in O&G is still in tact and will continue for some time. I'll continue to buy this on weakness in the comming months, unless the world stops needing O&G.

 

[The Mint Man]

I'll continue to buy this on weakness in the comming months, unless the world stops needing O&G.

Hmmmm, by my calculations you should be OK!.... I could be wrong but unlikely. I think the world needs oil and gas

 

[The Mint Man]

Well its no surprise that OSH is down over 2%, along with every other stock, on a day like today (90-100 points down currently).
However I think that we will see OSH bounce right back over $4.00 considering the POO is up 1.4% bringing it to $66.93.
If the overseas markets do ok over night then I think OSH will have a good day on monday, In fact I think that today could be a good buying or top up opportunity for OSH.

Cheers

 

[Sean K]

Well its no surprise that OSH is down over 2%, along with every other stock, on a day like today (90-100 points down currently).
However I think that we will see OSH bounce right back over $4.00 considering the POO is up 1.4% bringing it to $66.93.
If the overseas markets do ok over night then I think OSH will have a good day on monday, In fact I think that today could be a good buying or top up opportunity for OSH.

Cheers

Could be, but depends on the overall market strength more than you anticipate I feel. Nothing is saved in a general sell off. If this is just a blip, then support looks to be around 3.90 ish on major horizontal support and a couple of dodgy ones. Based on that, could be buying op, or if it breaks down, aaaaahhhhhhh!

 

[legs]

Another chart that shows a nice squeeze in the bollinger bands and volume starting to pick up...RSI showing not overbought...not so much an upwards cross on the MACD but good enough for me...

 

[It's Snake Pliskin]

Another chart that shows a nice squeeze in the bollinger bands and volume starting to pick up...RSI showing not overbought...not so much an upwards cross on the MACD but good enough for me...

Legs,
Does this mean you are going to take an entry based n your squeeze and RSI which is still pointing down?

 

[legs]

Legs,
Does this mean you are going to take an entry based n your squeeze and RSI which is still pointing down?

you better believe it.. I believe there is alot of upside on this stock and looks a good entry. I have been wrong lots of times but not more than right.

 

[legs]

Holding up well against a falling oil price..Is there something else going on or is it to do with the strong Technical Analysis of the stock...lol??

 

[The Mint Man]

Well looks like what I said in post #172 was right, Friday was a good buying opp.
Even though we had a couple of bad down days to start this week as well as oil being slightly down, OSH managed to go back up over $4.00 quite easily. Also today we currently stand 3.5% up @ $4.15... looking strong IMO ready to shoot for the moon again hey Kennas

Cheers

 

[legs]

Well looks like what I said in post #172 was right, Friday was a good buying opp.
Even though we had a couple of bad down days to start this week as well as oil being slightly down, OSH managed to go back up over $4.00 quite easily. Also today we currently stand 3.5% up @ $4.15... looking strong IMO ready to shoot for the moon again hey Kennas

Cheers

Energy firms rose following an over $1 jump in London Brent crude LCON7 prices [ID:nSP79164].
http://au.biz.yahoo.com/070614/19/19x4e.html

maybe this is why too??

 

[The Mint Man]

Energy firms rose following an over $1 jump in London Brent crude LCON7 prices [ID:nSP79164].
http://au.biz.yahoo.com/070614/19/19x4e.html

maybe this is why too??

Yes, probably has something to do with its strong rise in SP today but how do you explain it going from a low of $3.87 last week (8/6/07) to coming back over $4.00 yesterday in a falling market and POO?
I think it shows the strength of OSH

Cheers