Get free Elliott Wave Analysis on over 70 instruments including GOOGL, TSLA, AAPL, FB, MSFT, GDX and many many more. Improve your trading success and master Elliott Wave like a pro with our free 14 day trial today. (TRCH) Quote Overview Zacks Research Torchlight Energy Resources, Inc. Elliott Wave counts can evolve quickly, be sure to have your stops in and define your risk when trading. View All Zacks 1 Ranked Stocks Torchlight Energy Resources, Inc. Risk ManagementĪbove all, using proper risk management is absolutely essential when trading or investing in a volatile stocks. Presently, the expectation is for a rally into blue (1) before pulling back in (2), and then further extension higher. For now, the bottom is favoured to be set as long as $1.27 level holds. This would would point to a more prolonged correction in time and price. Should the stock continue to fall lower than 1.27, it would likely diverge in momentum. The RSI momentum at the Red II low has a very extreme reading. After that, another swing lower to form a low in Red II. From the Red I peak, prices sharply fell in a double correction ((W)) wave. Coming out of an all time low in September 2020, this peak can be counted as the first wave of a long extended rally. There is a clear 5 waves structure heading into the Feb peak. It can be expected that a long and deep correction can be expected from such a rally. The rally from the 0.21 September low to the 4.83 February peak represents a 2300% return within a few short months. Lets dig into the charts! Torchlight Energy Resources Elliott wave View:įrom the September 2020 low at 0.21, the trajectory on this stock is nothing less than extraordinary. The company currently holds interests in Texas where their targets are established plays such as the Permian Basin and the Eagle Ford Shale.” (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. Lets take a look at the company profile and see what they do: From an all time low of 21 cents set in September 2020, to the recent peak of 4.83, this stock represents high volatility price action. There is one energy producer that has vastly outperformed many other producers, Torchlight Energy Resources. So far 5,678,007 shares have traded compared to average volume of 10,304,768 shares.Ĭlick Here to get the full Stock Score Report on Torchlight Energy Resources Inc (TRCH) Stock.Oil has hard a remarkable rally from the March 2020 low, and further upside is favoured to take place in the energy sector still. The stock has traded between $1.83 and $2.10 so far today. Torchlight Energy Resources Inc (TRCH) stock is trading at $2.04 as of 10:16 AM on Monday, Jan 25, a rise of $0.39, or 23.64% from the previous closing price of $1.65. Should Torchlight Energy Resources Inc (TRCH) Stock Be in Your Portfolio Monday, Janu10:34 AM InvestorsObserver Analysts Mentioned in this article A rating of 97 puts Torchlight Energy Resources Inc ( TRCH) near the top of the Energy sector according to InvestorsObserver. What's Happening With Torchlight Energy Resources Inc Stock Today? There’s no need to try to remember what is “good” for a bunch of complicated ratios, just pay attention to which numbers are the highest. A score of 100 is the top and a 0 is the bottom. Percentile-ranked scores are also easy to understand. This makes InvestorsObserver’s overall rating a great way to get started, regardless of your investing style. Our proprietary scoring system captures technical factors, fundamental analysis and the opinions of analysts on Wall Street. A score of 98 would rank higher than 98 percent of all stocks. Investors Observer allows you to choose from eight unique metrics to view the top industries and the best performing stocks in that industry. Lets look at three renewable energy stocks that you can buy and hold for the long term. There are thousands of options and it can be confusing on what actually constitutes a great value. Unlike Torchlight, it doesnt have a foothold in oil & gas. Searching for the best stocks to invest in can be difficult. See Full TRCH Report What do These Ratings Mean?
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