Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Going with my theory of there being just three main types of penny stock charting formations on the bullish side, we have Sunkar Resources which is sporting the Leni Gas & Oil (LGO) type of configuration. Indeed, if anything the set up here of a rising trend channel / bull flag above the rising 200 day moving average seems more positive than the daily chart of the company it is said to be a copy of.
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