Since the “Day 2” dip which allowed traders to get in as low as 0.89, the penny stock of Stratex Oil & Gas Holdings, Inc. (STTX) has been steadily setting up new levels of support on a daily basis. Not climbing more than a couple points a day, STTX stock has been pushing out reason after reason as to why it is “The Bakken Oil Play” of the markets. Announcing its leasehold interests in 60,000 gross and 6,000 net acres in Sioux County, Nebraska acquired with the anticipation that an unconventional shale play may develop, traders can sit back and enjoy the elevator ride for a few more sessions without having to look for an exit.
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STTX Stock Quote
Market Cap: 64.30M
Last: 1.45 ▲ +0.04 (+2.84%)
Dollar Volume: $260,875
1st Resistance Point: 1.4933
2nd Resistance Point: 1.5367
1st Support Level: 1.3733
2nd Support Level: 1.296
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Stratex Oil & Gas Holdings is not your typical penny stock which just recently began shooting out PR as soon as its shares began to see some trading activity. Not seeing any real action prior to the early part of April, the Company has been developing their oil & gas portfolio for over a year already even having been rejected in September when they attempted to buyout Magellan Petroleum in a cash and stock deal worth almost $124 million.
News like today’s will continue to both flow and support STTX stock for as long as the Company continues to be focused on their business model. While revenues from their operating activities did produce nearly $1 million for the year ended December 31, 2012, it is not a far stretch to think that STTX stock could see it’s share price continue to rise to levels which could produce 400-500% gains from that “Day 2” dip.
About STTX Stock
Stratex Oil & Gas Holdings, Inc. is an independent energy company focused on the exploration, acquisition and production of crude oil in North Dakota, Montana, Colorado, Kansas, and Nebraska.
Click here to view the SEC filings for STTX.
Click here to view the website for Stratex Oil & Gas Holdings.
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Long and strong, STTX is tunring out to be a superb penny stock, especially since there was only 44,347,556 shares of common stock outstanding as of April 4. With the coming 10-Q filing for the 3 months ended March 31, 2013 soon to be filed, a jump in revenue numbers based on 2012 could light the ignition switch sending STTX stock to well over the $3 level.
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