TGS 12.02.2008

Since September last year TGS has more or less been in a downward movement with a so far low at January 22nd. Nevertheless since January 22nd. the stock price has risen and has now stopped at the resistance level of about 77 NOK. This resistance level is strong and we can expect some consolidation before breaking out of this level. How long this consolidation could last is probably a couple of days which fits perfect with the release of 4th quarter results. With a strong result the 77 NOK level will be broken which could give us a rise in price up to about 90 NOK. If not a strong result is presented we can see a drop in price to the 73 NOK level and 69 NOK level. Use the days towards Q4 results for possible accumulation at 73 NOK if lucky. It seems not likely that the stock price will fall back to 69 NOK the first few days unless something special happens.