Buyers showing interest as they push price up off key support levels

Potential Buy Entry Alert to Watch CVN

Time Frame : Daily

Sector : Energy

Key Stats : $422.85 Million Market Cap, VWAP 0.36, ASX Ranking 382, 4 Week Av Turnover $384,587, Current Turnover (Intraday as at time of alert) $310,538.

Company Overview : Carnarvon Petroleum Limited (CVN) is an oil and gas exploration company focused on the North West Shelf of Western Australia.

Broker Consensus : BUY

CVN – Carnarvon Petroleum Limited

CVN lifted off key support as buyers interest perks up and kicks price higher. We see the longer term chart is in a prime position for buyers to start the march higher. Watching the action for a higher low to build ideally after price kicks up through 0.40, when we expect to see stronger buying jump into the action.

Stock Code : CVN – Carnarvon Petroleum Limited

Company Website : www.carnarvon.com.au

Current Price : 36.5

Status : On watch for potential higher low and buy opportunity