Pantheon Resources (PANR) LongPantheon Resources Plc, through its subsidiaries, engages in the exploration and production of oil and gas in the United States.
CONS:
- Earnings have declined by 16.3% per year over past 5 years.
- Highly volatile share price over the past 3 months.
- Makes less than USD$1m in revenue ($0).
- Shareholders have been diluted in the past year.
PROS:
- Whilst currently unprofitable, they have been profitable on average for the past 5 years.
- Debt level is low and not considered a risk.
- They do not pay a dividend.
- At least 3 years of financial data is available.
- High market cap (£370M).
- PANR does not have negative shareholders equity..
- No concerning events have been detected.
PANR trade ideas
Intermediate Up-trending channel, Short-term pitchfork
Stock is in an intermediate up-trending channel since the June 2021 breakout.
Stock is taking short-term support from the 20ema, but currently under the 9sma
Stock bounced off the daily Ichimoku baseline on 21st October, with a smallish hammer-reversal and signs of a continuation today.
Trade idea calls for an entry at 75p for the retest of the central line of the pitchfork in the low 80's. Stop loss 72p. RRR 2:1
PANTHEON RESOURCES LONG-TERM BULLISH UPTRENDLSE:PANR Pantheon resources is on a major short-term uptrend. Looking forwards, a close above the weekly 200MA looks key to continuing this momentum towards an initial target of 48.4p. Look for the weekly 50 and 150MAs to cross above the 200MA to confirm a long-term move to the upside towards 130p
#PANR #PantheonResources - Looking positiveAs this has progressed on the hourly things are beginning to look better. It seems to me likely that we have our waves 1 and 2 set now and this *could* be the beginning of Wave 3 (target shown if so). For this scenario to play out the rising support line should continue to hold.
#PANR #PantheonResources - It's about to move, but which way?Impossible to call the next move other than to say it will happen within the next few hours - but is 50/50 up or down. Unfortunately a symmetrical triangle has no continuation or reversal bias.
Possible scenarios:
1. Break up - this will then likely proceed higher on a W3 move
2. Break down. Then we have two possibilities:
i. W2 continues down to 78.6% retrace, before W3 starts northward.
ii. The whole bounce was a dead cat one and it continues southwards.
For anyone wanting to trade this, look for the key areas and wait for a move before entering, would be my recommendation.
Pantheon Resources – 105.00 is the key level Rebound from 10-DMA support and a move back above monthly pivot S2 if followed by a day end close above 107.81 (previous day’s high) could yield a move higher to 115.50 (Sep 19 high).
On the lower side, only daily close below 100.00 would open doors for a much deeper sell-off to 90.00 levels.
Check out the detailed fundamental and technical analysis of Pantheon Resources here - www.youtube.com