Parkmead (#PMG) – increases stake in Perth and Dolphin UK North Sea oil fields
- 2016-09-13 23:22:49
Parkmead Group (PMG) is not only one of the better bullish prospects around in terms of the smaller companies zone, in terms of its daily chart we are also being provided with several lessons as to how the kind of extended rally being witnessed here actually gets off the ground.
On 23rd May it was announced that Parkmead (PMG) was to buy Lochard Energy (LHD) in an all share deal worth c 4.9p per share. 41% of Lochard shareholders have agreed unconditionally but some – including the former CEO are trying to block the deal.
Clearly, it does not require too much imagination to work out that after finding support at 12p or just below over the past couple of years, shares of Parkmead may finally go up and stay up. But the problem is trying to work out what will be different this time in terms of the stock being able to find lasting support at the bottom of the range on this occasion versus the other eleven?


