Moving away from not mining for gold, the penny stock of Bakken Energy Corp., fka Orofino Gold Corp. (ORFG), is doing it again – swinging for triple digit gains. Since shares of ORFG stock blasted upwards from .02 at the end of February, traders have been selling into press releases and buying back in a few days later to rinse and repeat the set up while details continue to flow out on how Nations Oil & Gas LLC will be a major player in the Uintah basin. While a test of .05 is about as optimistic as one could hope for, the lack of attention is allowing for the cash machine to keep pumping out dollars.
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ORFG Stock Quote
Market Cap: 10.98M
Last: 0.042 ▲ +0.006 (+16.67%)
Dollar Volume: $309,120
14-Day RSI: 56.05%
1st Resistance Point: 0.0475
1st Support Level: 0.0333
52Wk High: 0.095
52Wk Low: 0.0011
Up towards the end of 2013, Orofino Gold was all about the expansion of their interests into Columbia with promises of great rewards to come for shareholders having issued a 1-for-10 restricted ORFG stock dividend with a record date of September 15, 2013. No gold or even an increase in assets occurred between May 31, 2013 and February 28, 2014, but the direction in which the companies focus was headed has been provided the opportunity for ORFG shareholders to see a 7,816% increase from the start of the year to February 27 when shares topped out at .095.
Since The 52 week high was set, a consistent pattern has been presenting itself which has been putting some decent profits into the pockets of those trading ORFG stock. Since the end of February, Bakken Energy Corp. has issued PR announcements on March 5th, 11th and 26th as well as on April 2nd and 9th. With exception to the March 11th issued PR, shares of ORFG stock have begun a slide on each of the other 4 PR issuances.
After the last announcement from Bakken Energy Corp. detailing the restricted common stock dividend of 1 share of ORFG common stock for every 10 shares held through April 15, 2014, shares of ORFG stock have been on a climb, bouncing from 0.0212 to yesterday’s HOD, 0.0443 – better than a 100% bounce. Since it will be virtually impossible for Bakken Energy Corp. to do much of anything other than issue shares in agreement to acquire any leases or working interests, taking into account how the sell of is triggered by almost every press release will give you a good indication as to when to seek out an entry point.
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About ORFG Stock
Bakken Energy Corp., formerly Orofino Gold Corp., through their recently acquired wholly owned subsidiary, Nations Oil & Gas, LLC., is a development stage oil and natural gas company engaged in the discovery, development and production of oil and natural gas properties.
Issued and Outstanding: 261,400,000
Last 5 Trading Sessions:
ORFG has been a great penny stock to play over the last 2 months. Setting up for another dip here, likely by the end of the week, tracking the progress of ORFG as it attempts to go below .02 will be of great value, especially if you’re not looking to play promoted tickers.
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