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

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

Energy Metals & Mining Oil & Gas E&P Industrial Metals & Minerals
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

TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > Possible short squeeze this week!
View:
Post by Oldschool2022 on Sep 12, 2022 9:34pm

Possible short squeeze this week!

It looks like the perfect storm for a short squeeze. Shares are up 60% in the last 8 trading days and 10.3 % today. With over 1 million shares short (over $5 million $) they will have to soon cover their shorts and will put buying pressure to the upside. News will probably be the catalyst. With low daily volume and potentially 1 million shares being chased we should soon break to new year highs. I think we will consolidate in the $5.90-$6 range before tackling the upper end of the chart. The chart looks awesome and it looks like the train is about to leave the station. Cheers!!

Comment by pacer001 on Sep 13, 2022 1:32am
Right you are OldSchool, this train is leaving the station bound for BONANZAVILLE! All aboard!
Comment by BebeRebozo on Sep 13, 2022 3:54am
Who wants to own a house in Oregon? Should be one coming up for sale soon, seized by the bank for lack of payment on shares not covered in a short account...
Comment by pacer001 on Sep 13, 2022 6:18am
Yup Bebe, the duck is "flambe".
Comment by Yo_Dog on Sep 13, 2022 7:44am
This shows 4.4M shares short as of Aug 31.  https://fintel.io/ss/us/recaf
Comment by cyrustg on Sep 13, 2022 9:12am
Short interest trades on Recaf were 64% of total volume again yesterday. The shorts were selling into the rally at higher and higher prices so they will be trying to drive the price done really, really hard today. Could be lots of FUD etc.coming our way.If the price holds up , the shorts will have to start covering and buy ,baby, buy (to paraphrase ) ! JMHO Ciao
Reconnaissance Energy (Africa) Ltd
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