PGEI (Petroglyph Energy, Inc.) Message Board

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Gold/Mining/Energy : PGEI (Petroglyph Energy, Inc.)

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To: Robert T. Quasius who wrote (8)	5/31/1999 7:58:00 AM
From: Edward M. Zettlemoyer	Read Replies (1) of 14

Robert, price has shown some good support in the 2.625 area over the last two weeks. Momentum and stochastics indicators are now showing some upward pressure on price which IMO is a good indication that PGEI should hold it's current range after recent spike, i.e. support at 2.6250 and perhaps some upward drift, however, recent volume has been low. As with all oil stocks, I think the next step for a rally is to hear that the OPEC community is in compliance with their production cut-backs in order to stabilize the price of oil. End of month OPEC production reports should be out soon. With that in mind PGEI could go south of 2.6250 or north of 3, IMO your entry point is a moving target and it's name is OPEC. Just an opinion, Ed.

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