logo-loader
viewPremier Oil PLC

Bottom-fishing opportunity at Premier Oil, says Zak Mir

Technical analyst Zak Mir reckons there could be a bottom-fishing opportunity for investors to pick up Premier Oil PLC (LON:PMO) shares, which he is tipping add another 20% in coming months.

“It looks as though there’s an uptrend line from February last year running through around the 55p area,” explains Mir in the latest Proactive Investors Bulletin Board segment.

“While we hold above that there could be a bottom-fishing opportunity at least to take the shares back towards the 200-day moving day average at 70p.

“Stop loss on the whole idea really back below the 50p level,” Mir adds.

Quick facts: Premier Oil PLC

Price: 18.5 GBX

LSE:PMO
Market: LSE
Market Cap: £155.37 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Primary Health Properties 'in robust shape' and playing its part in fight...

Primary Health Properties PLC's  (LON:PHP) Harry Hyman and Richard Howell tell Proactive London's Andrew Scott they're working with health authorities to utilise its properties better during the current coronavirus crisis. They add that all of its rents are effectively guaranteed by the...

13 hours, 9 minutes ago

2 min read