ESGL Green Energy Penny Stock on VWAP band BreakoutESGL 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
markets.businessinsider.com
