Ophir Energy shows relatively strong fundamentals and is coming back to attractive price.

The trading strategy is mainly based on technical elements. Indeed, the security is in a negative configuration in the short term as the bearish trend of 20-day moving average, currently at GBp 200.4, shows. Nevertheless, the stock seems being oversold, near to its GBp 182.1 support in daily data. This level might stop the short term slumping and create a technical rebound in the direction of GBp 215.5.

In definitive, the configuration could quickly take over an uptrend with the combination of all technical factors. Most active investors could therefore open buyers positions to aim the GBp 215.5. The crossing of this level would open the way to new objectives with a second technical target at GBp 223. However the trade needs to be protected by a stop-loss order below the GBp 182.1.