![]() The news of a dividend payment, a reverse stock split of TRCH. If the stock can break below these support levels the stock is prone to see a strong downward push. Torchlight Energy Resources effectively no longer exists following its June 28 merger with Meta Materials (NASDAQ: MMAT) stock. Eventually a break above the $10 resistance could bring about a strong bullish move.īearish traders would like to see the stock fall below the $6 level and the higher low trendline. Torchlight Energy Resources was quick to cash in on retail-trader hype, selling 100 million worth of new shares amid the stocks record rally Monday. If the stock can see a bounce near these levels bullish traders would like to see the stock begin to work toward the $10 resistance. The stock continues to trade along the higher low trendline, this trendline may add another level of support near the $6 further adding to the possibility that the stock could see a bounce here.īullish traders would like to see the stock find some support near the $6 level or the higher low trendline.The $6 level was also a level of resistance previously, but as the stock price trades higher than this level it may now hold as support. TAG International was formed by the merger of Torchlight Group and Axiom International to become a Centre of Excellence for national and community security.TRCH STOCK (Torchlight Energy) Price Predictions Order Flow Merger. The $10 level is somewhere the stock previously found resistance, following the merger the stock fell below this level and may now hold it as resistance. The Torchlight stock price prediction module provides an analysis of price.Each of these moving averages may hold as a possible area of support in the future. Prior to co-founding Global Torchlight, David practiced for a decade as a cross- border mergers & acquisitions lawyer in the London and Chicago offices of a. ![]() The stock is trading above both the 50-day moving average (green), and the 200-day moving average (blue), indicating sentiment has been bullish.Following the merger, share price has fallen and now looks to be trading within an old channel. Source: Shutterstock Ahead of the merger, Torchlight paid the special Series A Preferred Stock dividend on a 1-for-1 basis to its stockholders of record on June 24.
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