Sign up
Oil Capital

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.

 

View full PMO profile

Premier Oil PLC Timeline

View All

© oil Capital 2017

Oil Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed oil companies to interact with institutional and highly capitalised investors.
Headquartered in London, Oil Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.