What’s Happening to the Share Price of Galicia Energy Corp Ltd?

What does Galicia Energy Corporation Ltd do?

Galicia Energy Corp Ltd [ASX:GAL] is an Eastern European centered oil and gas exploration and development company focused on advancing highly prospective assets within the oil and gas provinces of the Ukraine and Eastern Europe.

This places the company in a troubled sector, in a troubled part of the world.

Anyway, what is the chart telling us?

What does the chart look like?

I find it helpful to bring up a chart. Here’s the daily chart of GAL.

Galacia Energy Chart

Source: STEX

There hasn’t been any significant news, however, the chart is indicating noticeable activity since April this year.

What now for GAL shares?

One feels that there is news of some description to come from this company. We just have to wait and see what that might be.

As part of one’s investment analysis, you should always keep an eye on announcements. It will inform your investment decisions and is all part of reading the charts correctly. You can get some more ideas on reading charts here.

Cheers,

Terence Duffy,

Research Analyst, Cycles, Trends and Forecasts

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Terence Duffy is an analyst and chartist, specialising in researching economic trends and cycles.  His primary focus is housing and land affordability. But you can also depend on him to offer his unique analysis of stock market charts. As Terence will show you, the charts often forecast, well in advance, the good or bad news to come — which he details in Cycles, Trends and Forecasts.


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