TORC Oil & Gas Ltd. VREYD

Energy Oil & Gas E&P

TORC Oil & Gas Ltd engages in the exploration, development, and production of oil and natural gas reserves in the southeast Saskatchewan area. Crude oil constitutes an overwhelming majority of the production mix the company gathers from its assets. TORC gains access to its assets through government issued royalties and uses various techniques to identify hydrocarbon reservoirs. The company focuses heavily on light oil resource plays and relies on a three-phased strategy of resource capture, delineation, and production growth.

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TORC Oil & Gas Ltd. > Technical Analysis

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Post by retiredcfon Jun 08, 2019 7:32am

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Post# 29808416

Technical Analysis

Been awhile since we've seen one of these. GLTA

DAILY MARKET REPORT

TORC Oil & Gas Ltd forms bullish "Continuation Wedge" chart pattern
Jun 07, 2019

Recognia has detected a "Continuation Wedge (Bullish)" chart pattern formed on TORC Oil & Gas Ltd (TOG:TSX). This bullish signal indicates that the stock price may rise from the close of $4.18 to the range of $5.00 - $5.20. The pattern formed over 20 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: After a temporary interruption, the prior uptrend is set to continue. A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.