The stock of Jersey Oil and Gas PLC (LON:JOG) reached all time high today, Oct, 28 and still has GBX 222.01 target or 199.00% above today’s GBX 74.25 share price. This indicates more upside for the GBX 6.36M company. This technical setup was reported by Barchart.com. If the GBX 222.01 PT is reached, the company will be worth GBX 12.66 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 18.80% or GBX 11.75 on October 28, hitting GBX 74.25. About 295,136 shares traded hands or 278.34% up from the average. Jersey Oil and Gas PLC (LON:JOG) has risen 421.05% since March 31, 2016 and is uptrending. It has outperformed by 416.34% the S&P500.
Jersey Oil and Gas plc, formerly Trap Oil Group plc, is engaged in the exploration, development and production of gas and oil reserves from the United Kingdom Continental Shelf. The company has a market cap of 6.36 million GBP. The Company’s segment is the gas and oil exploration, appraisal, development and production, in a single geographical location, the North Sea of the United Kingdom. It currently has negative earnings. The Company’s assets include P.1293 Block 14/18b , which is located in the North West Witch Ground Graben in the Moray Firth and contains the Athena oil field, and Blocks 20/5b & 21/1d, which lies approximately 100 kilometers northeast of Aberdeen, close to the Buchan and Tweedsmuir North and South oilfields and straddle the western end of the North Buchan Trough.
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