Beach Energy Breaking Out

This story features BEACH ENERGY LIMITED. For more info SHARE ANALYSIS: BPT

By Michael Gable 

We have had another week where the market is up one day and down the next with a few interesting news items to keep investors guessing. From Deutsche Bank maybe going down the drain, to maybe being saved. We have OPEC looking to limit production, but being light on detail. Markets seem to be stalling here, and downside risks remain, but we do see the short term movement up in oil stocks to continue a little longer. We have a chart on Beach Energy ((BPT)) in today's report as it finally starts to break out.
 

We looked at BPT three weeks ago when it was trading at 54.5c. We noted the flag formation forming on the stock which was a positive. We can now see a clear breakout last week on good volume. This means that BPT should now rally towards our target of about 90c. We would look to place a stop under 60c.
 

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Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Michael assists investors to achieve their goals by providing advice ranging from short term trading to longer term portfolio management, deals in all ASX listed securities and specialises in covered call writing to help long term investors protect their share portfolios and generate additional income.

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities Pty Ltd is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

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