Bulls would then like to see the stock start moving up again and watch the pattern break above the highs formed by the cup.īearish technical traders would like to see the stock fall and form the handle, but instead of rising back up, they would like to see the stock continue to fall. This means there are many more buyers than sellers in the stock.īullish technical traders would like to see the stock take a slight pullback and form the handle on the chart.
The RSI is sitting at 87, which is well into the overbought range that starts at 80 and goes up to 100. The Relative Strength Index (RSI) shows that the stock has entered well into the overbought area.If the stock can get back above the highs after forming a handle, it could see a breakout. The cup and handle forms after the stock makes a high and falls for a while, but eventually comes back to that high forming a cup on the chart.A cup pattern is considered a bullish continuation pattern and may form a handle before the it's over.Each of these moving averages may hold as an area of support in the future.
#Torchlight special dividend date series#
(NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that it has declared a Special Dividend of Series A Preferred Stock to be issued on a one.
The stock is trading above both the 50-day moving average (green), and the 200-day moving average (blue), indicating sentiment in the stock is bullish. Torchlight Declares Special Dividend of New Series A Preferred Announces Record Date of June 24th PLANO, TX / ACCESSWIRE / J/T orchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that it has declared a Special Dividend of Series A Preferred Stock to be issued on a one-for-one basis to Common Stockholders of Record as of the close of market trading on J. Torchlight also announced that it implemented a 1 for 2 reverse. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that it paid the special Series A Preferred Stock dividend on a 1 for 1 basis to its stockholders of record on June 24, 2021. Shares may be forming into what technical traders would call a cup and handle pattern the stock has formed the cup of the pattern, but not the handle. PLANO, TX / ACCESSWIRE / J/ Torchlight Energy Resources, Inc. PLANO, TX / ACCESSWIRE / J/ Torchlight Energy Resources, Inc. Torchlight Energy was up 68% at $6.02 at last check. Late Monday, the company stated the special dividend would be issued on a one-for-one basis to common stockholders as of the close of market trading on June 24. (NASDAQ:TRCH) shares moved higher Tuesday after the company declared a special dividend of Series A preferred stock.
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