Potential Trade on Magellan Petroleum Corporation (NASDAQ:MPET)
Written By Jeff Siegel
Posted June 14, 2013
Something’s going on with Magellan Petroleum Corporation (NASDAQ:MPET) this morning. Not sure what it is, but yesterday the stock popped 8 percent before the close, and this morning it’s up nearly 4 percent in pre-market. Keep an eye on it. Especially if it breaks out over $1.10. $1.10/$1.20 seems to be the major resistance point for this one.
Yingli (NYSE:YGE) has announced it’s going to stop paying its dividend and ease back on investments in an effort to clear some debt. The company has reported seven straight quarterly losses. It’ll be interesting to see how the stock reacts today.
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