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Time to Sell Torchlight Energy Resources, Inc. (TRCH) After The Completion of This Bearish Wedge Down Pattern?

Torchlight Energy Resources, Inc. (NASDAQ:TRCH) Logo

Investors sentiment decreased to 1.86 in 2018 Q2. Its down 4.14, from 6 in 2018Q1. It turned negative, as 5 investors sold Torchlight Energy Resources, Inc. shares while 2 reduced holdings. 8 funds opened positions while 5 raised stakes. 5.83 million shares or 34.07% less from 8.84 million shares in 2018Q1 were reported.
Hightower Advisors Llc owns 24,375 shares. Ing Groep Nv holds 0% or 100,000 shares. 11,194 are owned by Syntal Capital Prtnrs Ltd. State Bank Of America De reported 20,000 shares stake. Moreover, Raymond James Financial Advsrs has 0.01% invested in Torchlight Energy Resources, Inc. (NASDAQ:TRCH) for 775,787 shares. Vertex One Asset Mgmt, a British Columbia – Canada-based fund reported 340,000 shares. Usca Ria Llc owns 380,000 shares for 0.06% of their portfolio. Vanguard Gp stated it has 1.44 million shares. 69,444 were reported by Biltmore Wealth Mgmt Ltd. Ser Automobile Association invested in 15,877 shares. Raymond James & Associate holds 0% or 25,000 shares in its portfolio. Northern Trust Corporation invested in 109,007 shares or 0% of the stock. Geode Cap Mngmt Ltd reported 339,206 shares. State Street stated it has 15,300 shares. Moreover, Fayez Sarofim & has 0% invested in Torchlight Energy Resources, Inc. (NASDAQ:TRCH).

Since August 24, 2018, it had 2 buys, and 0 sales for $22,521 activity.

The stock of Torchlight Energy Resources, Inc. (TRCH) formed a down wedge with $0.67 target or 7.00 % below today’s $0.72 share price. The 5 months wedge indicates high risk for the $50.63 million company. If the $0.67 price target is reached, the company will be worth $3.54M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 11.66% or $0.0954 during the last trading session, reaching $0.7226. About 199,629 shares traded or 47.73% up from the average. Torchlight Energy Resources, Inc. (NASDAQ:TRCH) has declined 22.76% since November 10, 2017 and is downtrending. It has underperformed by 38.38% the S&P500.

Analysts await Torchlight Energy Resources, Inc. (NASDAQ:TRCH) to report earnings on November, 13. They expect $-0.01 earnings per share, up 50.00 % or $0.01 from last year’s $-0.02 per share.

More news for Torchlight Energy Resources, Inc. (NASDAQ:TRCH) were recently published by: Globenewswire.com, which released: “Torchlight Spuds First of Next Three Wells Planned in Its Orogrande Basin Project” on October 31, 2018. Globenewswire.com‘s article titled: “Torchlight Energy Closes on $6000000 Financing and Provides Operational Update” and published on October 18, 2018 is yet another important article.

Torchlight Energy Resources, Inc., through its subsidiaries, engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. The company has market cap of $50.63 million. As of December 31, 2017 it had interests in four gas and oil projects, including the Orogrande project in Hudspeth County, Texas; Hazel project in Sterling, Tom Green, and Irion Counties, Texas; Winkler project in Winkler County, Texas; and Hunton wells in partnership with Husky Ventures in Central Oklahoma. It currently has negative earnings.

Torchlight Energy Resources, Inc. (NASDAQ:TRCH) Institutional Positions Chart

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