Sky China Petroleum: technical alert. +9.5% at $0.23 on above avg volume, with most of gains coming just after lunch. Stock has broken out of the downward channel, and momentum may carry prices towards the next resistance level at $0.25. Indicators are looking positive.
In late Oct, co proposed a private placement of 60.3m new shares (~18% of existing share base) at $0.177/sh to raise $10.7m.
3Q results may be due tmrw, according to Bloomberg.
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