ESGL Green Energy Penny Stock on VWAP band Breakout

Nov 28, 2023

ESGL on the daily chart is showing a VWAP band breakout from the lower bands to the upper

bands and had a huge day with after-hours follow through. On the 15 minute chart, a high tight

flag is seen with price in consolidation in a pennant ( symmetrical triangle) in the after-hours

and corresponding extreme relative volume denoted by blue histogram bars well above the

running mean volume. This stock has a news catalyst with a long-term contract to carbon

neutralize the oil industry in the Indonesia and Asia markets which has implications in climate

change, carbon credits and other related considerations. Those with foresight are considering

this for an investment. It essentially doubled in a single trading day. Traders simply see

extreme momentum which followed through after hours and consolidated. It should be on

for another good day or two either immediately or after longer consolidation. All in all, in

my opinion it deserves to be on a watch list. Other larger oil companies may consider a

contract in due time which will benefit new investors. For traders with

fluency trading high volatility penny stocks might find considerable quick profits here.

I have marked my target as the red horizontal line corresponding to the consolidation period

of early September and the high price on high volume in Late September. See
also
https://markets.businessinsider.com/news/stocks/esgl-holdings-limited-nasdaq-esgl-announces-multi-year-contract-renewal-with-singapore-refining-company-private-limited-1032852555

Nov 28, 2023

Trade active

Dec 6, 2023

Trade closed: target reached

One day trade in at 1.01 out at 1.46 45% gain good reward for risk taken . Will keep on energy sector watch list for the next news catalyst.