This Oil Exploration Stock is Breaking Out
An oil & gas explorer we have been following for the last six months, Jericho Oil Corp (JCO.V), soared more than 10% today while breaking out above a key resistance level:
We began covering Jericho in November of last year when JCO’s share price was floating in the mid C$.30s and then we highlighted the company’s 1,000 barrel per day Q3 2016 production goal in our latest piece in late-March. Today’s chart pattern breakout targets C$.60+ and the volume profile continues to confirm that a steady accumulation of JCO shares is underway.
The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. JCO is a high-risk venture stock and not suitable for most investors. Do your own due diligence and consult a licensed investment advisor prior to making investment decisions. Consult Jericho Oil Corp. SEDAR profile for important risk disclosures.
This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.