Daily Murmer 20/01/11

by Gary Glover

AWE Limited is engaged in exploaration, development and production of oil.  (formerly Aust Worldwide Exploration Ltd)
Technically we have a similar set up to Sonic Health (SHL) where we have 3 consecutive higher lows and also for our gann traders, we have gone swing low (90 days low to low) followed by another (90 days low to low), a very bullish time set up for a strong rally.  $1.70 should be our stop approximately and first resistance is $1.98.  A close above $1.98 would be  very bullish longer term.


Disclaimer

Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.