Bought & sold twice this stock but looking for a re-entry before operations resume later this year.
Keep a look out, price might bounce occasionally till then but best to look for a solid support area for entry.
Looking for entry around 2.2p-2.3p but possible best to scale in as there will be volume around there.
At the top it is obvious there is a bearish divergence which is indication of a bear move to come.
We had a break out at around 15.56p & plenty of resistance levels around there which will act as support so I will be looking there for a retrace before we push into new levels or go sideways for a while.
Echo Energy Plc is a holding company, which engages in the exploration and development of oil and gas properties primarily in Latin America. It operates through the following segments: Parent Company, Eastern Austral Basin, Tapi Aike, Bolivia, and Ksar Hadada. The company was founded in June 2005 and is headquartered in London, the United Kingdom.
ECHO
