Ophir Energy might rebound on the significant threshold currently tested.

Technically, the security is in a consolidation area limited by the significant 114.3 support and the GBp 170.9 resistance. A support at GBp 119.2 is currently giving an argument to buy the stock and a rebound is taking place on it. We should benefit from this area to open a long trade with the GBp 132.6 as a main target.

Ideally, investors will open a long position nearby the GBp 119.2 support in order to benefit from a technical rebound. The GBp 132.6 is the first goal. The second objective will be the 50-day moving average at GBp 144. This strategy should be covered by a stop loss placed under the GBp 114.3 support because a breakdown of this level would invalidate it.