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Source: Clive Maund for Streetwise Reports 03/12/2019
The above represents the opinion and analysis of Mr Maund, based on data available to himat the time of writing. Mr. Maund’s remarks are his very own, and are not a recommendation or an offer to purchase or sell securities. Mr. Maund is an independent analyst who receives no compensation of any sort from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a professional investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any sort of a transaction with financial ramifications. Even though a skilled and skilled stock market analyst, Clive Maund isn’t a Registered Securities Advisor. Therefore Mr. Maund’s remarks available on the sector and shares can only be construed as a solicitation to purchase and sell securities when they are subject to the prior consent and endorsement of a Registered Securities Advisor operating in compliance with the right regulations in your field of jurisdiction.
So we can expect investor attention to build ahead of the conference call, and whether the phone gets investors excited we might even see a spike in the share price immediately following (which we of course would sell into). Our 3-month graph below shows that Torchlight is nicely set up for another run that may easily take it nicely beyond the February peak–it’s merely above a very powerful support amount with additional support in the rising 50-day moving average coming into play, and we have only seen a bullish moving average cross, as well as the sooner overbought condition that prompted us to consider profits has unwound.
Technical analyst Clive Maund charts this small-cap energy firm and explains why he sees it as a strong buy.
1) Clive Maund: I, or members of the immediate household or family, own stocks of these companies mentioned in this post: Not one. I am, or members of my immediate family or family are, paid by the following companies discussed in this post: None. My firm has a financial relationship with these companies mentioned in this article: Not. CliveMaund.com disclosures below. I determined which firms would be contained within this article based on my research and comprehension of the industry.
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Torchlight Energy site .
Torchlight is therefore rated a strong buy again here, and people who sold part of the holdings before near into the February peak as suggested can buy back here.
Charts offered by the author.
Read what other pros are saying about:
( Companies Mentioned: TRCH:NASDAQ,
The decision to make money on at least half our holding at Torchlight Energy Resources Inc. (TRCH:NASDAQ) on 23rd February proven to be a great one, since it lost nearly 40% of its value peak to trough about the heavy reaction that soon followed. Really we were a day early accepting earnings and would’ve got a better price the following day, but it was still the correct decision. Therefore, we have the expected reaction, but we will be a day late purchasing it back, because it turned out higher on Friday due to shareholders being stoked by the firm declared before the open on Friday it would be hosting a conference call 22nd March to talk about the Orogrande Basin job , and since you may recall this is an exciting project because Maverick Operating has determined, on Torchlight’s benefit, that there is a substantial hydrocarbon system in this basin.