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Potential Buy Entry Alert to Watch BYE
Time Frame : Daily/Weekly
Sector : Energy
Key Stats : $242.67 Million Market Cap, VWAP 0.295, ASX Ranking 551, 4 Week Av Turnover $126,066, Current Turnover Intraday $77,405 (1:50pm AEDT).
Company Overview : Byron Energy Limited (BYE, formerly Trojan Equity Limited) engages in the oil and gas exploration in the United States. It owns and operates energy blocks located in the shallow waters of the Outer Continental Shelf of the Gulf of Mexico, offshore Louisiana.
Broker Consensus : Not covered by a major broker
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BYE – Byron Energy Limited
BYE has been consolidating the 0.30 zone for the last few weeks and we expect the action to soon heat up. The stock is not trading high volume but we expect that to change if price can push up through 0.31 and hold a higher low. Watching now for the move up to be supported with an increase in volume and for a higher low to confirm for the entry setup.
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Stock Code : BYE – Byron Energy Limited
Company Website : www.byronenergy.com.au
Current Price : 0.295
Status : On watch for potential higher low and push up through 0.39
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