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Sound Energy can add another 50p before end of summer, says Zak Mir

Technical analyst Zak Mir reckons the recent “positive” share price action at Sound Energy PLC (LON:SOU) will continue, and expects shares to add another 50p or so over the coming months.

“Recent share price action has been quite positive with the stock breaking above the 50 and 20-day moving averages, just nestling below a resistance line from September in the low 90s,” says Mir in the latest Proactive Investors Bulletin Board segment.

“At least while above the 50-day moving average at 79p, we’re looking for a three to six month target at the top of a rising trend channel as high as £1.35.”

Quick facts: Sound Energy PLC

Price: 1.461 GBX

AIM:SOU
Market: AIM
Market Cap: £19.38 m
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