From the Black Gold Letter

Welcome To The Shoal Point Energy HUB On AGORACOM

Shoal Point Energy Ltd. is a petroleum exploration and development company

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From the Black Gold Letter

posted on Dec 09, 2019 02:44PM

Next, Shoal Point (SHP/SHPNF) is trading very well after shares from the 8 cent private placement have become free trading. We started seeing some shorting early last week against positions that were about to become free trading and it lasted all week. Today sees good volume too and we could easily have seen the lows this morning when it flushed below .14 briefly.

This is a splendid chance to accumulate a bigger position in SHP, JUST BEFORE DRILLING COMMENCES! The only reason some folks are selling now is because they're up 100% on their money in 4 months and taking some off is normal. The stock is still quite tightly held and after this week, will tighten back up considerably. Those looking to add will want to throw bids in now through, say Wednesday/Thursday to catch any PP investors shares.

Once it dries up, it will again be difficult to accumulate much below .20. The healthiest thing that could happen here is continued weakness this week then a basing over the next week or two, before starting the next uptrend which could be quite formidable. This action is letting the RSI and stochastics cool off after seeing a monster run from .03 to 30 cents in 2019. This is necessary if the long term price ascent is to continue.