800% extension for Pharos Energy?** risky, small market cap **
On the above 6 week chart price action has corrected 98% since 2007. A number of reasons now exist for a bullish outlook, they include:
1) Price action and RSI resistance breakouts.
2) Support on past resistance following a 4 year accumulation period.
3) No stock splits since 330.
4) Market resistance sits between 100 and 180.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: Seriously small position size
Timeframe for long: This week
Return: 3-7x
Stoploss: N/A
