AFR tested its 200d MA Last week and traded lower since that, PMO News over the Week end & Tullow article in teh Barron's are positive catalyst for the sector, Stock is testing some support , I will take profit around the 154.5 levels, if 156.75 broken next levels will be 164.
AFR is still more than 4% higher since we initiate the trade.
----- Original Message -----
From: LAURENT CHEKROUN ()
At: Apr 23 2014 13:49:29
From: LAURENT CHEKROUN ()
At: Apr 23 2014 13:49:29
AFR +6.8% since recommendation on the 16th, still think there is more potential even if target reached, 155 next target----- Original Message -----
From: LAURENT CHEKROUN ()
To: LAURENT CHEKROUN ()
At: Apr 16 2014 16:46:46* Afren enjoyed a successful year in 2013, ramping up Ebok and capping the year off with the Ogo discovery* Kurdistan has been an early investment for Afren, and this asset could be sold and unlock value for shareholder, if no deal the stock should trade at least in line with the market* Stock is trading with a decent discount to NPV* 135 levels is a strong support and stock should hold these levels* Stosk has been weak on the last few weeks and start to stabilize* 2 brokers issued +ve recommendaation on the last 2 days (BMO & Investec)* I see limited downside (132 level - 5% from here ) and see the stoc testing back the 145 & 149 levels.as rumors were around on TLW stating Sinopec & Statoil could be interested, any news in the sector will push the stock higher.--> Buy Afren
