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Reconnaissance Energy Africa Ltd.RR

Reconnaissance Energy Africa Ltd.

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RECAF trade ideas

RECAF - Bottomed at $4.20, then raced back up to $6.30 Today, RECAF bubbled up by 25%. An extremely unusual day, a loco Loki of a day. Crude Oil rallied as well, moving back up to normal ranges at $66-67. Two options for RECAF from here: 1. We see a correction from this little big bull 2. RECAF continues its rise up to previous levels of resistance Below are listed levels: 14 Day RSI at 80% 15.3385 13-Week High 11.2300 52-Week High 11.2300 14 Day RSI at 70% 10.4996 1-Month High 9.3500 9.2485 Price Crosses 40 Day Moving Average Stalls 8.8900 Price Crosses 9 Day Moving Average Stalls 8.5403 38.2% Retracement From 13 Week High 8.0378 14-3 Day Raw Stochastic at 80% 7.7228 Price Crosses 40 Day Moving Average 7.7094 50% Retracement From 13 Week High/Low 7.5567 14-3 Day Raw Stochastic at 70% 7.3785 38.2% Retracement From 4 Week High 7.1216 38.2% Retracement From 52 Week High 6.8786 38.2% Retracement From 13 Week Low 6.7695 50% Retracement From 4 Week High/Low 6.6284 14 Day RSI at 50% 6.5944 14-3 Day Raw Stochastic at 50% High 6.3500 High Last 6.3000 Last 6.2740 Price Crosses 18 Day Moving Average 6.2555 Price Crosses 18 Day Moving Average Stalls 6.1604 38.2% Retracement From 4 Week Low 5.8525 50% Retracement From 52 Week High/Low 5.6322 14-3 Day Raw Stochastic at 30% Pivot Point 3rd Level Resistance 5.4967 Pivot Point 2nd Level Resistance 5.3033 Pivot Point 1st Resistance Point 5.1867 5.1511 14-3 Day Raw Stochastic at 20% Previous Close 5.0700 Previous Close 5.0010 Price Crosses 9 Day Moving Average 4.9933 Pivot Point Low 4.8800 Low Pivot Point 1st Support Point 4.8767 14 Day RSI at 30% 4.8351 4.7271 3-10 Day MACD Oscillator Stalls Pivot Point 2nd Support Point 4.6833 4.6801 14 Day %k Stochastic Stalls 4.5834 38.2% Retracement From 52 Week Low Pivot Point 3rd Support Point 4.5667 4.4905 3-10-16 Day MACD Moving Average Stalls 1-Month Low 4.1889
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by Grandmaster76
Analyzing RECAF and USOIL Recently, USOIL and RECAF have both taken a tumble. Named "The Hottest Oil Play in Decades," we surely have more to see from RECAF in 2021 and 2022. As you can see, USOIL's candlestick progression is clearly notated by the dark grey line displaying price action on the front. Experts predict USOIL to bottom around $55-60 USD. After that, experts predict OIL to stabilize around $65-80 USD levels. The ultimate top predicted is $100. This would lead to gas prices around $4/gallon for your Suburu's fill up. At around $2.50, we still have plenty of room to run. However, Biden's administration has asked for lower gas prices for now, as the economy continues to recover from COVID. Will the Oil Barons be able to produce more oil to lower gas prices, or will we see gas prices once again rising up? I wouldn't put it out the question. ACTION PLAN: Currently, RECAF is still in a bear pattern, though we still a slight uptick today as price actions grapples for the last few bites of the bear. 1. Can RECAF's stock price go down to the most favorable price target for longs, $1.80-3.50 USD? Formidable support levels lie here, protecting it from falling lower. 2. Or will we remain in a bottoming formation pattern around $4.75-5.25 USD? The median price is $6.20 USD and that may be met sooner or later. Overall long price target for long-term holders: $12.81 USD Feel free to write your thoughts in the comments as well.
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by Grandmaster76
RECAF Potential Buy Levels ApproachingAfter a spectacular rise from $1 to $12, RECAF has plunged back to $6 USD. My favorite 'penny stock,' I would love to accumulate RECAF around $3-5 USD and hold for $9-12 USD. Such a level to accumulate would be statistically safe, and provide excellent 100-300% returns in the following months. RECAF is a great upcoming company that can continue to grow. Wallet Investor currently projects $22 but the stock's rating hovers at $12. Do you think this could make more than Bitcoin in 2021 and early 2022? Happy trading everyone. Please do you own analysis and thanks for reading.
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by Grandmaster76
RECO strong downThis one looks like it may have been a pump. There was some amazing volume to start the 1800% gain and has ever since been lacking the valuable property. RECO has formed many patterns that could lead to %10+ trades, but due to the lack of volume, RECO is failing the patterns. From a technical analysis standpoint, there isn't one sign to say that RECO would go positive within the next month. Perhaps the company may be worth more than its current price, but looking at charts it appears as though this was all a pump and dump.
TLong
by Mullac_27
11
RECAF - The best new oil stock for 2021? I hope this stock doesn't follow the "Sell in May, Go Away" yearly adage. I first noticed it at $1.80, and was a great buy then. Rumors were circulating that this company had found major oil in Africa. With the news that they had indeed located liquid gold, the stock shot up, and momentum carried it to new heights. I put in a simulated investment so you can see the kind of returns you can get from this kind of stock and investing at the right time, not at FOMO. It may sell off again now, and we will see whether it reaches buy targets at lower prices to re-bull up to it's boosted yearly target or $7.80. Let's pray RECAF will give us another wonderful opportunity to put food on the table for ourselves and our loved ones. Happy weekend!
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by Grandmaster76
RECAF Rockin the Gartley!! I'm a bit late to this party, but RECAF be a ROCKIN the Gartley Harmonic! Looks pretty clean. A-B is a full and clean .5 retrace. D is incredibly close to .886, B-D less than a tenth from a 1.618. X-D is right on. OOOh baby!! Its not too late! the boat may have left but the Captain forgot his shades and should be coming back to port to get em! Following a 60% equity loss most stocks will see a .618-a full 1 retrace due to the recent memory of the colossal drop. When a solid retrace begins, fear of the 60% loss is still fresh causing panic selling. I expect a minimum of a .618 retrace $2.24, but a .782 $1.97 more likely Target 1 .386 Target 2 .5 Target 3 C Target 4 D Target 5 is a 1.618 extension from X-A $6.64
OLong
by Effler
1
RECAF: Fundamental Analysis - In Lieu of Warrant Expiration After this last run we are in a clear consolidation period. Investors have no reason to exit the space unless they continue to pay for warrants. (The long bet is that RECAF proves an economic hydrocarbon system). I anticipate continual sideways movement with possible downward trend until: 1. The five day moving average meets the 50 day moving average. 2. The company announces the expiration of all warrants on March 18th, 2020. This should be an indication that the selling has stopped from shareholders who have participated in early corporate financings. 3. News of completion with the first well and beginning of the second should ensue before the warrant expiration date. Fundamentally, most investors are flocking to the space as they speculate an untapped oil basin in Namibia. I think there is security in buying dips with this stock between now and the completion of the program. Regardless of share price the stock will skyrocket if they discover oil. However until that time, I expect more investors to flock to the space as oil continues to increase in price and speculators look for leverage. The closer we move to the completion of the program the more I expect an appreciation in share price.
OLong
by T-3-R-D
RECAF: Fundamental Analysis - Warrant Exercise Clear descending triangle. 1. Floor is placed at 2.30-2.35. Represents 3.00CAD which must hold for warrants to exercise. It is my sentiment that the company and investors will not allow it to dip under as it will raise 33 million dollars for RECAF. 33 million outstanding warrants at 1.00 strike price = 33 Million cash. This is a financing greater 50% greater than what they raised this summer. 2. Warrants are already piling in! The market is gobbling up the extra float. By time the warrants do force exercise the majority of warrants will have already been paid for. 3. Extra cash = extra wells = more chance of discovering a hydrocarbon source. 4. Less risk = higher share price. More investors should pile in as the chance to prove an enormous hydrocarbon system increases. 5. Expect news and a wave of marketing surrounding the acceleration of warrants exercise between February 8th - February 15th. Inevitable pump Downside: 1. Deflationary environment puts pressure on oil price turning investors away from the commodity. 2. General market pullback...
OLong
by T-3-R-D
1
RECAF: Simple TABullish Flag pattern playing out. Higher lows, consistent tests of highs along confluence zones. I'm buying under 3.40 anticipating retest of all time highs. If the volume continues to show up it could squeeze the shorts as well. With energy (including oil and gas) looking bullish in the market, I would imagine continual buying into RECAF as investors look to speculate and get more leverage out of their trades....Not to mention they could still hit oil.
OLong
by T-3-R-D
RECAF: Fundamental Analysis (Post Parabolic Run)I am NEUTRAL on this stock. If you got in early great, hold out and see what happens. Long story short I don't see retracement below $2.50 I think RECAF is going to be choppy and volatile until this first drill hole is complete. I do think RECAF is going to stay afloat above 3.00CAD (around 2.50US). The company doesn't want to allow it to dip under $3.00CAD for 20 days because as they are seeking to call in 33 million warrants. It is fair to say there is going to be a bunch of selling. But If the volume keeps up it is going to chew through it regardless and I think we can look forward to another break out. Really it is all about the buying power continuing to show up, how much more marketing they do to bring new investors at the dip, and whether they even whiff gas or oil on this first whole. They have stated that they will not release results until all 3 wells have been drilled. However if they hit gas or get streaks of oil out of cores coming from the well, it is going to leak and run the stock up. I'd expect a news release if it is obvious they have discovered any resource, and no news until april if they don't know what they have, or drill a bunch of dusters. Investors might not like it, but the truth is this is ONE BIG PUMP, there is just no reason to dump. Long term buy and hold if you believe in the project. Short term I will consider buying the dip between $2.50 - $2.99 US. I am likely to sell everything I purchase on the dip between $3.25 - $3.50. For more leverage I will be trading Renaissance Oil Corporation. They have the option to drill the entire Botswana property within the Kavango basin. CEO is Craig Steinke is the founder of RECAF. I think it has more legs in it and better technicals for a short term trade than RECAF. Though it truly is complete arbitrage and still fairly dependent on RECAF performance. If we see RECAF push back up 50% I would expect closer to a 100% gain in RSNFF (ROE.V) - It is higher risk and even more speculative but I still think it is potentially early to buy in compared to RECAF. This chart can extend and is how I will consider trading through February until the market behaves differently. Upside if they find an economic resource $20.00 - to the moon. This is all about short term protection and selling and is indicative of how I will behave to continually derisk my investment. As the downside here is $0.00
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by T-3-R-D
RECAF: Fundamental Analysis.Reconnaissance Energy Africa is a difficult company to produce a tech analysis for as it has a series of atypical events and timelines. This company is an explorer and has historically moved based upon fundamental catalysts. Historically these have included the refurbishment of the drill rig (and delays), the last private financing, shipping of the drill rig (and delays), and now the spudding of the first well. Marketing and news has provided increased visibility and brought new shareholders to the table at every event. We are currently awaiting a series of events should provide clear catalysts for investment. These events include: 1. Drilling should begin this week. This is the first of three wells to be produced. Initiation of drilling is a huge catalyst for investment as it removes all the risk of halted exploration due to a myriad of potential problems. The announcement of "Spudding the Well" typically coincides with a marketing campaign that will bring new interest and buyers to the table. 2. It takes 30-35 Days to drill a well. It is within this period that I expect to see consolidation above an all time high. Most investors will be awaiting drill results and holding onto shares. (The big money to be made is determined by successful discovery of a reliable hydrocarbon source.) With Haywood's Report issuing a share price target at $4.00CAD and a buy recommendation before drilling and evaluative news flows, it is easy to imagine that feeling of missing out could and should drive momentum throughout the duration of the first well. 3. If the share price exceeds $3.00 CAD for over 20 days, the warrant's will force exercise. This will dilute the shares, however it will raise 35 million dollars in cash for the treasury, guaranteeing a well program far beyond 3 wells. (Huge catalyst to invest long and creates even more potential value with less risk.) 4. The entire drill program ends in April. If they find NOTHING in the ground, you could bet the stock would be worth nothing as well. If they find an economic resource the company the share price should go parabolic. With all these fundamentals in place I find it difficult to produce a tech analysis beyond a 4 month window, as the result of the ongoing drill program makes or breaks the company. Last buy opportunity is opporaching before drilling begins at the current pull back to support between $1.55 - $1.65 window. The desire for support remains, but if delays occur, or no news cycle ensues, expect a significant retracement.
OLong
by T-3-R-D
3