Houston Natural Resources Corp (HNRC)

[d0lphint0m]

Could not disagree more. It's like being a card counter in BlackJack and playing with one deck instead of a shoe with six decks.
The Accumulation/Distribution chart on $HNRC is what drew me to this stock. It is the most amazing display of accumulation that I have seen in a stock in a downtrend. Usually you can get a stock with an On Balance Volume chart going up but the Accumulation/Distribution chart going down or vice versa because the formula for the two are different despite the two formulas looking for the same outcome....stock accumulation or distribution. On Balance Volume is a simple simple formula. Add the up volume, subtract the down volume. Joe Granville invented the formula in the 1960's and my aunt swore by it. She made a fortune using it. He moved the market by $25 billion dollars on April 22, 1980 and January 6, 1981 but his ego got the best of him later on. Anyway I digress.
Accumulation/Distribution was invented by Marc Chalkin who is still alive. The two major indicators associated with the ADL are the Chaikin Oscillator and the Chaikin Money Flow indicators, both of which have been heavily used on Wall Street since their inceptions. Two of his philosophies are "I have always believed that earnings drive stock prices" and "I have a theory on Wall Street: bad things happen to companies that are over-valued, good things happen to companies that are fairly valued or cheap".
Having said all of this, (whew) I will finish my dissertation by saying that both Acc/Dis AND OnBalVol charts are beautiful AND the fundamentals are beautiful

https://stockcharts.com/h-sc/ui?s=HNRC&p=D&yr=1&mn=3&dy=10&id=p76139773845&a=1139669197&listNum=1

Whales are buying the HNRC. The HNRA just started trading on Thursday and we don't know 1) what oil company they will get involved with 2) whether the shorts will try to whack HNRA so that 3) if it is trading under $10 at dividend time will there be a dividend?

Currently the pps is backtesting the downtrend line and uptrend line on low volume.
https://www.amazon.com/Understanding-Options-Technical-Analysis-Strategies/dp/1403382867

As far as my credentials. I worked on Wall Street for 50 years. Was vice president at UBS when I left. Wrote a book on technical analysis https://www.amazon.com/Understanding-Options-Technical-Analysis-Strategies/dp/1403382867

I am older than dirt and seen a lot (of dirt).