Good example of what looks to be probably a rising wedge (ascending triangle) in a downtrend, A bearish continuation pattern. It broke down through the wedge support today. I'll be watching to see if it continues down and where it ends up and signs for a reversal. It could be a fakeout but the sto is overbought and pointing down and MACD is dropping from above zero.
http://stockcharts.com/h-sc/ui?s=nes...d=p72883684422
Ness Energy International, Inc. engages in the exploration, production, marketing, and transportation of oil and natural gas in Israel and the United States. The company holds existing mineral rights in Texas, including the Fort Worth Basin in Parker, Hood, Shackelford, Jack, Wise, and Palo Pinto counties in the United States. It also develops and exploits mineral deposits in the Lahava field in Israel. As of December 31, 2006, Ness Energy had proved reserves of 168,000 barrels of oil and 42,903,000 thousand cubic feet of gas. It sells its products to intermediaries. The company, formerly known as Kit Karson Corporation, was founded in 1979 and is based in Weatherford, Texas with an additional office in Netanya, Israel.
Shares Outstanding: 179.78M
Float: 119.45M
Ness
Linear Mode
