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Tag Oil – Updated Chart

Posted by admin on December 17, 2009 · Leave a Comment 

TAO-DEC. 16Great press release from TAG OIL this morning resulted in a huge move today. As you can see from the chart Tag Oil closed up $0.46 today to close at the high of the day at $1.99 on significant volume of over 274,000 shares.
I would expect some further bullish activity early in tomorrow’s trading session for those market participants who might have missed today’s release.
Technically I view this move as huge, and for the short-term traders this presents an opportunity to lock in some profits. As with any abrupt upside price surge, I anticipate a retracement of these gains over the next few days which I would welcome as a terrific buying opportunity in the $1.60 to $1.70 levels.
TAO-DEC. 16

Filed under Carl's Tips, Featured Stocks, Hot Oil Stocks, Tag Oil Ltd. · Tagged with oil, oil and gas, Tag Oil

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