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Afren opened at 137, £10pp


On Afren. Afrend was doing jolly good through January to February hitting the 156 mark. Since then it has had jolts up and down with a downward trend, not withstanding the economic issues which hit share prices for six when the news about Cyprus came about. Since its last month low of 122, the trend has been upward, even after THREE downward dips. The 20 day EMA is upward trending whilst the 40 and 60 are leveling out. I feel there's much more to come from Afren and I project it will hit and maybe surpass 156 within two months. This will give a profit of around £200, as I'm in at £10pp from 137. At this stage I'll wait a touch longer to move the stop position to a profit of £200 and wait til it either rises more or hits the stop.