JERICHO OIL update AFTER LATEST RALLY...

originally published Friday, January 12, 2018

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In itself, the chart for Jericho Oil still looks good, as it has broken out of a trading range into an upleg that has resulted in good gains. The problem is that the entire sector just hit an important target yesterday, as set out in the latest Oil Market update, with a high chance that it will turn lower, and if this happens most all stocks across the sector are likely to be dragged down, including Jericho, and there is scope for it to drop as it has just had a good run.


Since we bought Jericho at C$0.60 early in September and never sold it, we are up over 50% on it, unless that is, you placed a stop at the level suggested in the November update at C%0.718, which just got tripped before the latest run (in accordance with Murphy’s Law). In any event, if you are holding the stock, it is considered prudent to take profits here and await developments, and we may buy it back later, depending on how things pan out.

Jericho Oil website

Jericho Oil Corp, JCO.V, JROOF on OTC, closed at C$0.92, $0.73 on 11th January 18.


Posted at 5.40 am EST on 12th January 18.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment or securities advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market technical analyst, Clive Maund is not a Registered Investment Advisor or Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be construed as a recommendation or solicitation to buy and sell securities.