3SOF

NGAS was overbought when I bought it and needed a pullback (unfortunately these things are somewhat unpredictable) and maybe there's some more work to do on that chart to design a bullish pattern, but analysts are unanimous, there was a very significant and material fundamental development within the company which more than doubled its value, not even counting with the rise in $NATGAS prices.

All analysts have price targets north of $10 for NGAS. I've attached a good analysis which explains the change in fundamentals for NGAS and the analyst places a $13 price target on the stock.

Trading plan for NGAS:

Take profits at $10. Sell with a small loss if the stock is set to close below $5.97.

Trading plan for NGAS:

Take profits at $10. Sell with a small loss if the stock is set to close below $5.98.

If NGAS does not hold the $6.39 mark, it will quickly reazch $6, imho.

Hey Berloga, how's it going? I think your glass is half empty when looking at NGAS

NGAS is technically looking great. More time than price consolidation over the past few sessions after a strong move off the lows since end of March, sitting just above key support in the $6.00 zone, in a market leading sector. Combined with strong fundamentals it's a great looking set up.

All things being equal I am expecting NGAS to breakout and continue past the recent highs of $7 in the next few sessions or so. I will be adding NGAS to one of my own portfolio's probably today (Tuesday).

Hi guys
If I'm going to buy this stock Then I would buy it today on the open 

It's really cool , probably we'll see 30% in a few days .. In addition to the nice technical setup ,  OIL will probably make a new high today ..

nice pick David

Quote from: berloga on May 05, 2008, 01:24:24 PM
If NGAS does not hold the $6.39 mark, it will quickly reazch $6, imho.

Yes, probably. But so far NGAS held $6.39 on close, so this support level remains valid.

Hi Aussie and Garoh, I'm glad you guys also like NGAS. I believe the fundamental case is very clear and undoubtedly points to significantly higher prices.

1Q 2008 results will be out on Thursday. Maybe the conference call (which will have information on how the new $NATGAS wells are going, currently available just to the people who pay for professional research) will be the catalyst to push NGAS to new highs significantly above $7.

Trading plan for NGAS:

Take profits at $10. Sell with a small loss if the stock is set to close below $5.99.

I like the natural gas industry presently. There is a big demand for it across the globe. I own NGAS shares. I just want to foresee the technical action on the stock so that any plausible outcome does not take me by surprise, other than an extraordinary one.

Quote from: berloga on May 06, 2008, 09:57:40 AM
I like the natural gas industry presently. There is a big demand for it across the globe. I own NGAS shares. I just want to foresee the technical action on the stock so that any plausible outcome does not take me by surprise, other than an extraordinary one.

I agree, always be prepared for everything in the stock market, because indeed, everything is possible.

QuoteIt's really cool , probably we'll see 30% in a few days .. In addition to the nice technical setup ,  OIL will probably make a new high today ..

11% of those 30% were already made, awesome short term call Garoh, congrats (Aussie also had a killer timing).

Look at that chart now, volume was the highest in more than 11 months, at 916,500 shares. Results will be released tomorrow after the close. Maybe the update on the new explorations will be a catalyst to move NGAS towards $10 over the short term.

If I'll take profits at that level or not will depend on the incoming information. For now the plan remains:

Take profits at $10. Sell with a small loss if the stock is set to close below $6.01.

Quote from: David Randolph on May 07, 2008, 08:41:56 AM

Quote from: berloga on May 06, 2008, 09:57:40 AM
I like the natural gas industry presently. There is a big demand for it across the globe. I own NGAS shares. I just want to foresee the technical action on the stock so that any plausible outcome does not take me by surprise, other than an extraordinary one.

I agree, always be prepared for everything in the stock market, because indeed, everything is possible.

QuoteIt's really cool , probably we'll see 30% in a few days .. In addition to the nice technical setup ,  OIL will probably make a new high today ..

11% of those 30% were already made, awesome short term call Garoh, congrats (Aussie also had a killer timing).

Look at that chart now, volume was the highest in more than 11 months, at 916,500 shares. Results will be released tomorrow after the close. Maybe the update on the new explorations will be a catalyst to move NGAS towards $10 over the short term.

If I'll take profits at that level or not will depend on the incoming information. For now the plan remains:

Take profits at $10. Sell with a small loss if the stock is set to close below $6.01.

Thanks David
I still need my 19% to  go 
I might sell it before earnings release ....may see another good candle today ..

I sure hope NGAS and CHNG  just simply take off  ;DCHNG had a 13% move up yesterday too. 

QuoteI might sell it before earnings release ....may see another good candle today ..

Indeed, it happened. Any reason for selling before earnings, besides fear of missing the profits?

I think there's a good chance that I may take profits around $10 tomorrow, because the company's new horizontal drilling program will be widely known at tomorrow's conference call.

The plan remains:

Take profits at $10. Sell with a small loss if the stock is set to close below $6.04.

Quote from: Garoh on May 07, 2008, 10:13:17 AM

Quote from: David Randolph on May 07, 2008, 08:41:56 AM

Quote from: berloga on May 06, 2008, 09:57:40 AM
I like the natural gas industry presently. There is a big demand for it across the globe. I own NGAS shares. I just want to foresee the technical action on the stock so that any plausible outcome does not take me by surprise, other than an extraordinary one.

I agree, always be prepared for everything in the stock market, because indeed, everything is possible.

QuoteIt's really cool , probably we'll see 30% in a few days .. In addition to the nice technical setup ,  OIL will probably make a new high today ..

11% of those 30% were already made, awesome short term call Garoh, congrats (Aussie also had a killer timing).

Look at that chart now, volume was the highest in more than 11 months, at 916,500 shares. Results will be released tomorrow after the close. Maybe the update on the new explorations will be a catalyst to move NGAS towards $10 over the short term.

If I'll take profits at that level or not will depend on the incoming information. For now the plan remains:

Take profits at $10. Sell with a small loss if the stock is set to close below $6.01.

Thanks David
I still need my 19% to  go 
I might sell it before earnings release ....may see another good candle today ..

I'm out before the close at $8.17

Update:

Here’s a Research Note for NGAS published by Broadpoint last Friday, commenting the results among other subjects:



Their price target for NGAS is $10.50, but more important than that is their interesting coverage which I recommend a quick read.

After a bad open on Friday (in reaction to results), the overall price action for the session was in fact bullish with NGAS recovering most of loses and closing near the highs of the day.

The short term chart remains bullish and the mid-term chart looks great, if NGAS manage to trade above $8.89 in the near future, we’ll have a technical confirmation for its primary long term trend (as a matter of signals, among the huge volume, the recent breakout and the EMA-50/EMA-200 just crossing over, a print of $8.89 would be the last confirmation for a new Bullish main trend).

The trading plan remains almost the same, just updating the stop level for now:
Take profits at $10. Sell with a small loss if the stock is set to close below $6.10.

Regards,

Update:

Interesting price action for NGAS during the last few days
Yesterday’s candle was not so bright, but I don’t believe we have reasons to worry yet.

A new bullish research note was out a few days ago, probably helping the buying pressure, this one was by Sidoti & Company, which have a 12$ price target and some interesting estimates:

Just posting a print screen, since its only a 1 page PDF:



I’m updating the trading plan, raising the stop level a bit more to correspond to the new price developments, I’m putting it a few cents below the last relative short term low of $7.31 which is already a profit zone, and the target remains the same for now ($10).

Trading plan: (updated)
Take profits at $10. Sell with a small profit if the stock is set to close below $7.25

Regards,

Horizontal drilling update. This statement quite telling and probably helping the pre market action '." Mr. Daugherty added, "The success we are having in Leatherwood with our horizontal drilling to the Devonian shale, which is present throughout our Appalachian acreage, has the potential to provide the catalyst for significant growth in our production and reserves over the long term." :

Full Detail:

NGAS Resources Provides Horizontal Drilling Update
Production in Line with Expectations
20 Horizontal Wells Planned in 2008
LEXINGTON, Ky.--(BUSINESS WIRE)--NGAS Resources, Inc. (Nasdaq: NGAS) today provided an update on the five horizontal wells it has drilled to date in its core Leatherwood field.

As previously disclosed, natural gas production from the first horizontal well averaged 367 thousand cubic feet per day (Mcf/d) for the first 30 days. The second and third wells have now been on line for over 30 days, with average production rates of 405 Mcf/d and 421 Mcf/d, respectively. The company retained 62.5 percent working interest in the first two wells and 50 percent in the third well.

The Company's fourth horizontal well in Leatherwood was recently completed and put on line. Its fifth well is being fraced and will go on line in early June. The Company retained all of the working interest in the fourth well and has an 87.5 percent working interest in the fifth well. Each well has a single lateral leg up to 3,500 feet through the lower Huron section of the Devonian shale.

William S. Daugherty, President and CEO of NGAS Resources commented, "Production results from these wells are in line with our expectations. As a result, we plan to drill at least 20 horizontal wells in our Leatherwood field this year." Mr. Daugherty added, "The success we are having in Leatherwood with our horizontal drilling to the Devonian shale, which is present throughout our Appalachian acreage, has the potential to provide the catalyst for significant growth in our production and reserves over the long term."