Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s): RECAF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the opening of Kavango Sedimentary Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. It holds 90% interest in a petroleum exploration license in northeast Namibia and a 100% interest in petroleum exploration rights in northwest Botswana over the entire Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (6.3 million acres) and 8,990 km2 (2.2 million acres) in Botswana. The two licenses together comprise 34,325 sq km (8.5 million acres). Its conventional drilling program is focused on analyzing the rocks to determine if there is a working petroleum system in the Kavango Basin.

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Reconnaissance Energy (Africa) Ltd > for what its worth

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Post by Bpultraon Jan 24, 2021 10:48am

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Post# 32370646

for what its worth

Inside Bar (Bullish)

2021 Jan 22Daily

Short-Term Bullish

Volume	1,603,462
Close Price	3.80
Pattern Duration	2 days
Inbound Trend Duration	5 days

Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead.

An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.

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