Bullboard - Stock Discussion Forum Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s): RCNWF | V.RECO.WT | RECAF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest... 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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