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Reclaim Heritage

Heritage Oil plunged by almost four-fifths following its June 2009 peak, but now offers a potential buying opportunity, says Ragu Dharmaratnam of Baselica.

It recently formed a bullish double-bottom formation on its share price chart, and traders might wish to take long positions if it now breaks above 160p, with a target of 200p and a stop-loss below 130p.

City Trades are written by selected external contributors and are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.

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By Ragu Dharmaratnam,
01 May 2012

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