Special Feature
Technical view Taking a look at the current technical position, we can see that, at the time of writing, the stock is sat squarely on the downtrend around 45p. Volume in recent weeks has been high and so is confirmatory of the move higher. Our favourite medium term moving averages — the exponential 19 and 38 days — have both turned up and are now just crossing back through each other to the upside. Finally, the MACD measure has crossed back through the zero line which is typically a bullish harbinger.
CHART - RUSPETRO
28 | www.financial-spread-betting.com | May 2013
A positive medium term technical picture is thus painted, with only a weekly close back below 30p negating this. Potential upside targets are the gaps at 50p initially and then 80p. News on the refinancing could be the catalyst that pushes them up there.