Bullboard - Stock Discussion Forum 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... see more

Add To Watchlist

OTCPK:VREYD - Post Discussion

TORC Oil & Gas Ltd. > Technical Analysis

View:

Post by retiredcf on Jun 08, 2019 7:32am

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.

166

Comment

Comment by MustangMatt on Jun 10, 2019 12:30pm

April 10, 2019 TOG Diamond Bottom, Triple Bottom $ 5.85- $6+ target. Never Happened ! Be warned the Prime Minister wants to shut down this industry. I was wrong months ago, I hope you did not listen to me. I am a bag holder now, like many of you. I think this stock can get to $3.25 easy. If The Lieberals shut down the Transmountain June 18 or do the usually delay thing. ...more

216

Comment

Comment by bonjovi501 on Jun 10, 2019 2:18pm

5 more months of misery and if Justine gets re-elected I am out of oil for good. God help us all if that happens.

Comment

Comment by Divvyluvr on Jun 11, 2019 4:55pm

I think I'll average down one more time if this approaches 3 dollars. What a tradgedy Canadian Energy has turned into. Hopefully positive news with TMX gives a bit of a lift to these companies. Avg 5.20 currently..

377

Comment