JERICHO OIL update after surge to new highs on IMMENSE RECORD VOLUME......
originally published Thursday, March 08, 2018While there was clearly an element of luck involved, our repurchase of Jericho Oil on Monday tuned out to be very well timed, as it soared 25% higher (17% on US OTC) to a new high yesterday on huge record volume.
What is likely to happen now? – should you take profits? – the answer is believed to be no. Although it could backtrack today on profit taking, perhaps to the vicinity of the January highs, the enormous record volume on this break to new highs, which was a record by a huge margin, is a sign that it is probably headed much higher. Therefore no action is required on our part and we simply wait to see how it plays out.
Jericho Oil website
Jericho Oil Corp, JCO.V, JROOF on OTC, closed at C$1.00, $0.75 on 7nd March 18.
Posted at 6.50 am EST on 8th March 18.