< "> edit this post http://www.investegate.co.uk/afren-plc-%28afr%29/rns/trading-statement-and-operations-update/201301210700069619
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In an attempt to cut down the header page,i've transferred some of the older news to Page1 post No.3.

http://www.oil-price.net/index.php?lang=en
http://www.ft.com/home/uk

http://www.investegate.co.uk/Article.aspx?id=201111020700081674R
http://www.investegate.co.uk/Article.aspx?id=201111150700250723S
http://www.investegate.co.uk/Article.aspx?id=201112010705051251T
http://www.investegate.co.uk/Article.aspx?id=201201170700146472V
http://www.investegate.co.uk/Article.aspx?id=201201230701479690V
http://www.moneyam.com/action/news/showArticle?id=4323758
http://www.investegate.co.uk/Article.aspx?id=201204170700164488B
http://www.investegate.co.uk/Article.aspx?id=201205140700212304D
http://www.investegate.co.uk/Article.aspx?id=201205210700407032D
http://www.moneyam.com/action/news/showArticle?id=4430164
http://www.investegate.co.uk/afren-plc-%28afr%29/rns/significant-new-seychelles-3d-seismic-programme/201212120700052973T/
http://www.investegate.co.uk/afren-plc--afr-/rns/2013-half-yearly-results/201308230700063334M/
http://www.investegate.co.uk/afren-plc--afr-/rns/ogo-drilling-and-resources-update/201311190700083404T/
http://www.investegate.co.uk/afren-plc--afr-/rns/trading-statement-and-operations-update/201401280700096280Y/
http://www.investegate.co.uk/afren-plc--afr-/rns/interim-management-statement/201405200700135209H/
http://www.investegate.co.uk/afren-plc--afr-/rns/interim-management-statement/201410300700116483V/
http://www.moneyam.com/action/news/showArticle?id=4942625
http://www.moneyam.com/action/news/showArticle?id=4943375

The chart shows a classic longterm consolidation period, bouncing between 80p - 105p, breakouts from this kind of pattern are usually quite impressive. In for the ride albeit with a relatively tight stop. Just a little bit annoyed I didn't take a position at 80p.

Robbie Burns (Naked Trader) blog returns next Wednesday 8th, he gave up the ghost on 11/08th closing @ 96.0 having made a few bob trading the range numerous times. Be interesting to see whether he changed his mind and got back in before the rise.

I'm wondering if I may have made a bit of an error here. Had a look at a proper chart this evening on Sharescope and the top of the consolidation pattern is at 107p not the much often mentioned 105p, which may expalin why it didn't push through today. However, the SP did make a breakout, although briefly. No reason to think it's a disaster, just a timing mistake. Will just have to wait for next week.

Now will we stay above 105p ,next week could be a good one here.

Or not! Now 102p.

Just can't pull away from this area.....frustrating.....probably needs an update and a positive one at that....

rf news of the arrival of the oil containment vessel should do it.

Can it be seen on google earth ?

or maybe large funds are buying this stock and brokers with MM are suppling them with the right price.

As I suspected the SP did not break out last week and now in the process of yet another retracement...grrrr. Sub 100p to the mid 90s is quite possibly on the cards. Hopefully a short lived dip!

pth why when next month production will start ramping up to the year end target of around 50000bopd?

I tend to agree with ptholden, short for now @ 101.1, tight stop, tgt 85.0 or date of shareholding meeting on 21st, whichever comes first.

we tend to disagree no reason to short after their recent good results and likely imminent positive news about the arrival of the oil containment vessel from the far east which will trigger a substantial increase in production. Don't forget when production reaches 60000bopd AFR will be producing as much as TLW which has a market cap almost 10 times AFR.

Chart traders will be short, regardless of what may happen in the next month or two. As the broker said in post #1175, buy on any weakness, for those who are holding equity.

harry what morgan said was any short term weakness is an opportunity to add, in front of positive news which will come shortly. If you want to short go ahead but beware you might be caught short!

My first point of support is bang on 100p which equates to both SP trendline support (although this is a very new trendline and needs at least one more test to be viewed as such) and a support line on the RSI. If this doesn't do the business, I think 90p is a strong possibility. I have no intention of reversing my position but will add on any further weakness. I reallydon't see 85p, but I guess, never say never.

i agree with all except harry! ...... to short AFR is dangerous bordering on suicidal, and for bugger all potential gain

cynic - Would you be so kind, just for future reference, to post all the stocks that in your opinion would be dangerous, bordering on suicidal, and for bugger all gain :o)

Seriously though, I just try to trade what I see. (Tried trading what I wanted to see many times, amazingly never worked.)

Made money on SB bought @ 96 sold @ 103 +7. Currently short with tight stop. It's a game not life and death!

if you want a game, go and play tiddlywinks with mitzy - she needs company

for myself, after a horrid earlier part of the financial year, all now much rosier after a very successful 2009/2010 ...... clearly i don't call entirely wrongly even without research

if you want wrong call....look no futher than asos.......my shins are black and blue where i've kicked my self....emu