PBN PetroBakken Energy Ltd

pbn pbn l

Petrobakken has an interesting chart. These guys drill , fract and pump oil and in the Bakken area and have had a real bad time doing so due to mostly rainfall that made activities very difficult. Things should get better. Maybe. We look at the chart not the fundamentals and there is now a fairly clean 5 wave sequence down from $34 to $9.55, down 72%. The stock is presently sitting on the lower channel trend line AND is slightly below the lows of Dec. 2008 and March 2009 (does not show well on Bigcharts). Oil at the time was about $30 and presently it is $84, gas is roughly unchanged. The potential should be there,ask your broker.