Xcite Energy looks like it has been setting itself up for a further break to the upside, says Zak Mir at www.zaks-ta.com.
The stock offers an attractive reward-to-risk ratio, with the potential for a move up to the November spike high at 106p. An end-of-day close above the 20-day moving average at 94p would be further compelling evidence that there is sufficient momentum building for more gains.
