Trade Setup
Tengasco, Inc., together with its subsidiaries, explores for and produces oil and natural gas in the United States. It primarily holds interests in the oil and gas properties located in Kansas. As of December 31, 2019, the company had 174 producing oil wells, 13 shut-in wells, and 37 active disposal wells.
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.
