Dear valued subscribers,
Are you ready to meet our new low float $0.01 bounce play?
Independence Energy Corp (IDNG)
IDNG is setting up perfectly for a bounce of massive proportions. Take a look at the chart below – it has pulled back aggressively over the past several days, however we note a key difference – sell volume is declining. This means sellers have less conviction, and a bounce could be imminent.
Even better, IDNG closed yesterday just above support of $0.01. This support level is key because it used to be its resistance. And as all the gurus will teach you, once resistance is broken (like it was in early March), it now acts as support.
We love the chart, and think there is a great opportunity for a bounce after IDNG has pulled back from its peak a couple weeks ago of $0.04.
We also love the very small float on IDNG. Per OTCMarkets.com, IDNG has an ultra low float of 1.8 million shares, and outstanding shares of just under 122 million. At its current price, that equals an TINY market cap of just $1.3m.
So the chart is set up for the bounce, the capital structure is very positive for trading, what else is there?
I’ve give you something else. Barchart.com, the authority on stock analysis, rates IDNG very high. Check it out ->>>
And the Company just announced some news this morning which could get investors blood flowing even more. IDNG have announced they have retained RTD Energy, LLC of Dallas, TX to assist them in accelerating the development of the 1,400 acre Coleman South Oil and Gas Project.
About Independence Energy Corp (IDNG)
IDNG is a 2005-founded, California-based Oil and Gas Company with a primary focus on the exploration and production of Oil and Natural Gas in the U.S., with attention to the states of Oklahoma and Texas.
IDNG Oklahoma properties include Quinlan Lease Oil property, stretched across 120 acres, containing three oil wells in active production and one salt water disposal well and are known respectively as Quinlan 1, 2, and 3. Since IDNG‘s acquisition of this property in 2011, IDNG‘s Quinlan properties have been actively Significantly Upgraded with Infrastructure and Water Handling Upgrades being placed at the site such as an upgraded high capacity fluid pump which will transport each day up to 6,000 barrels of total fluids. Such improvement creates a quicker and more efficient clearing of the salt water within the property and further improves the oil to water cut ratio.
While IDNG continues to conduct improvements on its Oklahoma property, IDNG has also diverted to its focus to the state of Texas where IDNG‘s Latest Oil and Gas Land Package Acquisition just took place. IDNG‘s newest acquisition, known as the Coleman South Project, spreads across over 1,400 acres wherefore IDNG believes multiple drill targets and locations previously drilled remain untouched or under-exploited. Among these targets include the Hrubetz Ellenburger field which has produced 2.4 million mcf of gas and an excess of 1.4 million barrels of oil; the Templeton Field with previous production of 4.1 million mcf of gas and 1.6 milion barrels of oil; and the Novice Field with past production of 3.8 million mcf of gas and 3.3 million barrels of oil.
Keep your eyes firmly on IDNG today. Bounce plays are always some of the most profitable, so if IDNG gets the bounce as we expect it might, you might be sitting very pretty after the day is over.
Penny Stock General
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