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Does Eco Atlantic’s share price drop offer a potential entry? (ECO)

16 Mar 2018 | by: James Moore

Eco Atlantic Oil and Gas (LSE:ECO) has seen its share price come off 25% from highs of 41p in February. A horizontal line of support meets an upward trendline formed from previous lows, providing a potential cushion at 27p. Such a move will likely take the Relative Strength Index (RSI) below 30, indicating the stock is oversold. Should this level fail there is further support at 21.8p.  The price action has been forming a widening cone shape, with upside towards 45p potentially available should recent highs be surpassed.

Author: Stuart Langelaan

Disclosure: The author of this piece does not own shares in the company mentioned, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

  • James Moore does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.
  • James Moore has not been paid to produce this piece by the company or companies mentioned above.

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