Last month the 88 Energy Limited (OTCMKTS:EEENF) stock had a pretty volatile time thanks to certain events. That being said, in the past few weeks, the stock has been remarkably steady and has been in the middle of a phase of consolidation.
Considering the fact that stocks in prolonged periods of consolidation can often breakout strongly, it might be a good idea for investors to keep an eye on the 88 Energy stock at this point.
In April, the stock collapsed amidst panic selling from investors after 88 Energy announced that there had been a power outage due to equipment failure. That had affected work at two of the highest prospect zones. However, later on in April, 88 Energy provided an update with regards to the drilling operations that it had conducted in Alaska. The update resulted in a rebound in the stock. It is now going to be interesting to see if he stock breaks out or not in the coming days.
Biotech, Tech, and Crypto reporter
Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.