This one looks like it may have been a pump. There was some amazing volume to start the 1800% gain and has ever since been lacking the valuable property. RECO has formed many patterns that could lead to %10+ trades, but due to the lack of volume, RECO is failing the patterns. From a technical analysis standpoint, there isn't one sign to say that RECO would go positive within the next month. Perhaps the company may be worth more than its current price, but looking at charts it appears as though this was all a pump and dump.
- Lacking volume right now
- Needs more traction
- strong downtrend right now
- no sign of + right now
- the only standpoint to invest in this company would be the hope from their major oil findings in South Africa, not from charting/technical analysis.
- VOLUME IS THE KILLER RIGHT NOW!