Bullboard - Stock Discussion Forum 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... see more

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TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > for what its worth

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Post by Bpultra on Jan 24, 2021 10:48am

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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Comment by werROBINHOOD on Jan 24, 2021 11:29am

You don't need no chart to tell you anything. The stock had over a 30% correction and my feeling is lots of shorts covered and now have gone long. Next stop 6 bucks in my mind.

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