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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.


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