{"id":123798,"date":"2018-03-22T07:37:19","date_gmt":"2018-03-22T11:37:19","guid":{"rendered":"http:\/\/countingpips.com\/?p=123798"},"modified":"2018-06-01T15:42:13","modified_gmt":"2018-06-01T15:42:13","slug":"a-strong-oil-stock-at-a-great-entry-point","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/a-strong-oil-stock-at-a-great-entry-point\/","title":{"rendered":"A Strong Oil Stock at a Great Entry Point"},"content":{"rendered":"
March 22, 2018<\/div>
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The Energy Report<\/b><\/p>\n

Source: Clive Maund for Streetwise Reports<\/em> \u00a0\u00a003\/17\/2018<\/a><\/b><\/p>\n

Technical analyst Clive Maund discusses a small-cap oil and gas company that he believes has lots of upside potential.<\/p><\/blockquote>\n

The purpose of this update on Amazing Energy Oil & Gas Co. (AMAZ:OTCQX)<\/a> is to point out that its
\nchart still presents a very strong picture, despite the reaction back of
\nthe past week or so, and since this reaction back is normal and has
\ndone no technical damage, it is viewed as throwing up an excellent
\nbuying opportunity in a stock that has demonstrated with its spike
\nhigher earlier this month on enormous record volume that it is set to go
\nmuch higher.<\/p>\n

We can see the spike higher on massive volume and subsequent reaction back to support in detail on the latest 6-month chart and the point where we went for it again on 8th March<\/a>
\nas this spike was starting. The reaction back was due to overhanging
\nsupply from non-believers impacting, but on the next advance there will
\nbe less of them around. The volume pattern and volume indicators are
\nstrongly bullish, moving averages are in bullish alignment and the MACD
\nindicator shows that there is plenty of room for a big move up from
\nhere.<\/p>\n

<\/center>The 4-year chart is most useful as it reveals exactly what is going on
\nand why Amazing has so much upside potential from here. On this chart we
\ncan see that it has been marking out a giant base pattern since
\nmid-2015, with the latter part of it, from early last year, being a
\nslightly odd-shaped but distinct Cup & Handle base, accompanied by a
\nsignature volume pattern for this type of base pattern. The volume
\nbuildup over the past 6-months is a bullish sign, as is the resulting
\nsurge in volume indicators, especially in recent weeks. The reason for
\nthe massive volume blast over a week ago was that, despite it not
\nbreaking above the resistance marking the upper boundary of the entire
\nbase pattern going back to 2015, it was breaking out of the Cup &
\nHandle base. Thus the reaction back that has followed over the
\npast week is viewed as presenting the LAST CHANCE to buy this stock
\ncheap before it takes off higher in a serious manner \u0096 and this
\nshould happen regardless of what the oil sector as a whole does,
\nbecause of the fundamentals particular to this company. As you may
\nrecall we went for it again right ahead of the high volume spike, and as
\nfortune would have it we are being granted “a second bite at the cherry.”<\/p>\n

<\/center>Conclusion: the prospects for this stock are very bright, and it
\nis viewed as being at a great entry point here after the reaction of
\nthe past week or so, so holders should stay long and it is viewed as an
\nimmediate strong buy again here. Amazing has 68.4 million shares in issue, of which the float is about 45 million.<\/p>\n

Amazing Energy Oil & Gas website<\/a>.<\/p>\n

Amazing Energy Oil & Gas Co, AMAZ on OTC, trading at $0.62 on 16th March 2018.<\/p>

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Clive Maund<\/i><\/a> has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years’ experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.<\/p>\n

Want to read more Energy Report<\/i> articles like this? Sign up<\/a> for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews<\/a> page.<\/p>\n

Disclosure: <\/b>
\n1) Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. CliveMaund.com disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.
\n2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here<\/a> for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Amazing Energy.
\n3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
\n4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer<\/a>. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
\n5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and\/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and\/or employees of Streetwise Reports LLC (including members of their household) own securities of Amazing Energy, a company mentioned in this article.<\/p>\n

Charts provided by the author.<\/p>\n

CliveMaund.com Disclosure:
\nThe above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.<\/i><\/p>\n

<\/p>\n

( Companies Mentioned: AMAZ:OTCQX,
\n)<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

The Energy Report Source: Clive Maund for Streetwise Reports \u00a0\u00a003\/17\/2018 Technical analyst Clive Maund discusses a small-cap oil and gas company that he believes has lots of upside potential. The purpose of this update on Amazing Energy Oil & Gas Co. (AMAZ:OTCQX) is to point out that its chart still presents a very strong picture, […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-123798","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=123798"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123798\/revisions"}],"predecessor-version":[{"id":127185,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123798\/revisions\/127185"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=123798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=123798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=123798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}