SAN FRANCISCO, Dec. 03, 2019 (GLOBE NEWSWIRE) -- After a prolonged period of adversity and depression, it looks like Amazing Energy Oil & Gas Co. (AMAZ:OTCQX) has at last "cleaned the clock" with respect to the obstacles that have been blocking its way until recently. In the first place, it has sorted out the problematic situation with the Miesners.
Company mentioned: Amazing Energy Oil & Gas Co.
Next, it has just announced that it has closed a substantial US$4,500,000 financing and also that it has acquired assets in Mississippi known as the Denver Mint Project.
So, with these major steps behind it and significant obstacles removed, the company looks better placed to advance towards its goals, which means that the stock is now much more likely to advance. That makes it interesting to us, for as we will now see on the charts, it is exceedingly cheap here and in a very good position to begin a major new bull market.
The 3-year chart is interesting because it shows that the downtrend in force from late 2017 has this year morphed into a bullish Falling Wedge, and with the Wedge rapidly closing up at support as the fundamentals improve significantly, a breakout into a new bull market looks set to occur soon, and given how persistently negative sentiment towards this stock has been in the recent past, we could even see a spike after it does break out.
Continue reading this article: 'This is Amazing': Technical Analyst Rates Oil & Gas Small Cap Strong Speculative Buy
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