Reabold Resources - Price about to head upstream

Buy Reabold Resources ( RBD .L)

Reabold Resources PLC is a United Kingdom-based investment holding company. The Company is focused on investing in upstream oil & gas projects. The Company’s projects include Reabold California, Wick UK, Oulton UK, Parta Romania, and Colter UK. Reabold California, which include monroe swell redevelopment, monroe swell drilling, west brentwood, and grizzly island.

Market Cap: £60.5Million

Reabold shares have corrected lower in recent weeks and support seems to have been found close to an unfilled gap at 0.846p. Volumes have picked up in recent sessions and the shares are breaking above downtrend resistance. Looks like it could be an interesting play from here.

Stop: 0.75p
Target: 1.0p
Target 2: 1.25p
Target 3: 2.0p

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