AKITA Drilling Ltd T.AKT.A

Alternate Symbol(s): AKTAF | T.AKT.B

Energy Oil & Gas Drilling

AKITA Drilling Ltd. provides contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The Company is an oil and gas drilling contractor with a fleet of about 32 drilling rigs. Its United States fleet is supported out of its operations base in Midland, Texas and consists of 13 high specification AC triple rigs, one high specification AC double rig and one DC triple rig, all serving the Permian Basin. With a fleet of 17 rigs, its Canadian division operates in Alberta, British Columbia, Saskatchewan, and as market conditions dictate, the Yukon and the Northwest Territories. The Canadian division operates both wholly owned rigs and rigs. Its Canadian division primarily operates in the oil sands, heavy oil regions and in the Montney deep gas basin. In addition, the Canadian division plays a role in drilling potash and other energy transition targets, including carbon capture wells, hydrogen storage wells and geothermal wells.

TSX:AKT.A - Post by User

AKITA Drilling Ltd

<< Previous

Bullboard Posts

Next >>

Post by Hockeyzon Mar 17, 2024 4:29pm

190 Views

Post# 35937425

Great current technicals for breakout of Akita stock higher

For those into technical analysis, the Akita price chart shows 2 extremely positive breakout patterns. First, the 50 day moving average just crossed through and above the 200 day moving average, which is referred to as a “golden cross” formation. Secondly, a "cup and handle" formation just formed from October 16, 2023 to now. Both of these just happened in the last week and suggest a breakout to much higher levels, especially when they occur together.

<< Previous

Bullboard Posts

Next >>

Cannara reports record growth and profitability in Q4 2023