RECAF - Bottomed at $4.20, then raced back up to $6.30 Today, RECAF bubbled up by 25%.
An extremely unusual day, a loco Loki of a day. Crude Oil rallied as well, moving back up to normal ranges at $66-67.
Two options for RECAF from here:
1. We see a correction from this little big bull
2. RECAF continues its rise up to previous levels of resistance
Below are listed levels:
14 Day RSI at 80% 15.3385
13-Week High 11.2300
52-Week High 11.2300
14 Day RSI at 70% 10.4996
1-Month High 9.3500
9.2485 Price Crosses 40 Day Moving Average Stalls
8.8900 Price Crosses 9 Day Moving Average Stalls
8.5403 38.2% Retracement From 13 Week High
8.0378 14-3 Day Raw Stochastic at 80%
7.7228 Price Crosses 40 Day Moving Average
7.7094 50% Retracement From 13 Week High/Low
7.5567 14-3 Day Raw Stochastic at 70%
7.3785 38.2% Retracement From 4 Week High
7.1216 38.2% Retracement From 52 Week High
6.8786 38.2% Retracement From 13 Week Low
6.7695 50% Retracement From 4 Week High/Low
6.6284 14 Day RSI at 50%
6.5944 14-3 Day Raw Stochastic at 50%
High 6.3500 High
Last 6.3000 Last
6.2740 Price Crosses 18 Day Moving Average
6.2555 Price Crosses 18 Day Moving Average Stalls
6.1604 38.2% Retracement From 4 Week Low
5.8525 50% Retracement From 52 Week High/Low
5.6322 14-3 Day Raw Stochastic at 30%
Pivot Point 3rd Level Resistance 5.4967
Pivot Point 2nd Level Resistance 5.3033
Pivot Point 1st Resistance Point 5.1867
5.1511 14-3 Day Raw Stochastic at 20%
Previous Close 5.0700 Previous Close
5.0010 Price Crosses 9 Day Moving Average
4.9933 Pivot Point
Low 4.8800 Low
Pivot Point 1st Support Point 4.8767
14 Day RSI at 30% 4.8351
4.7271 3-10 Day MACD Oscillator Stalls
Pivot Point 2nd Support Point 4.6833
4.6801 14 Day %k Stochastic Stalls
4.5834 38.2% Retracement From 52 Week Low
Pivot Point 3rd Support Point 4.5667
4.4905 3-10-16 Day MACD Moving Average Stalls
1-Month Low 4.1889
RECAF
Analyzing RECAF and USOIL Recently, USOIL and RECAF have both taken a tumble. Named "The Hottest Oil Play in Decades," we surely have more to see from RECAF in 2021 and 2022.
As you can see, USOIL's candlestick progression is clearly notated by the dark grey line displaying price action on the front.
Experts predict USOIL to bottom around $55-60 USD. After that, experts predict OIL to stabilize around $65-80 USD levels. The ultimate top predicted is $100. This would lead to gas prices around $4/gallon for your Suburu's fill up. At around $2.50, we still have plenty of room to run. However, Biden's administration has asked for lower gas prices for now, as the economy continues to recover from COVID. Will the Oil Barons be able to produce more oil to lower gas prices, or will we see gas prices once again rising up? I wouldn't put it out the question.
ACTION PLAN:
Currently, RECAF is still in a bear pattern, though we still a slight uptick today as price actions grapples for the last few bites of the bear.
1. Can RECAF's stock price go down to the most favorable price target for longs, $1.80-3.50 USD? Formidable support levels lie here, protecting it from falling lower.
2. Or will we remain in a bottoming formation pattern around $4.75-5.25 USD? The median price is $6.20 USD and that may be met sooner or later.
Overall long price target for long-term holders: $12.81 USD
Feel free to write your thoughts in the comments as well.
RECAF Potential Buy Levels ApproachingAfter a spectacular rise from $1 to $12, RECAF has plunged back to $6 USD.
My favorite 'penny stock,' I would love to accumulate RECAF around $3-5 USD and hold for $9-12 USD.
Such a level to accumulate would be statistically safe, and provide excellent 100-300% returns in the following months.
RECAF is a great upcoming company that can continue to grow. Wallet Investor currently projects $22 but the stock's rating hovers at $12.
Do you think this could make more than Bitcoin in 2021 and early 2022?
Happy trading everyone. Please do you own analysis and thanks for reading.
Overbought at $2.8 but Massive Pump to $6RECAF is one of my favorite stocks this year.
I regret not buying it at $1.8 in my real account, though I did in my paper account on TradingView.
The price target has been lifted to $7.80. I thought it would cap at $5, but they've struck liquid gold, oil.
Potential buy after retracement from highs around $4.44.
Let's get caffeinated with Cup O'Joe, carefully.
#longliveRasputinandStNick