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...
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...
Bullish 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...
1. 10 million CAD raised, no warrant at .50
2. Accelerated program and opportunity to grow resource
3. Resource to establish through summer
4. Assumption backed by commodities bull market
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...
This analysis is a 3 month outlook and is dependent on fundamental factors:
1. Market Sentiment - Gold, Silver, and Copper need to exhibit at least a sideways movement (however choppy) throughout Q1. Once Q1 financial reports are released from miners it will become obvious that debt is being paid off as precious metal and base metal prices retain their current...
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...
