Trade Setup
PEDEVCO Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas assets in the United States. As of December 31, 2018, the company held approximately 23,441 net acres in the Permian Basin Asset located in Chaves and Roosevelt Counties, New Mexico.
Stocks found in this category are low priced stocks priced between .50 and $2, with at least 50k shares of average shares trading per day. The stocks are pausing a trend either up or down, with a new bar over the prior day open or close. These are high reward to risk stocks with the potential for very sharp moves. A stop should be maintained at the low of the prior day. Target prices for exits can be determined by using the next level of resistance higher or by using Fibonacci resistance levels found using TradersPro.
