Is Abraxas Petroleum AXAS the best stock to buy? What is a Good Stock to buy?
Is AXAS the best stock to buy because it has been breaking it’s trend with large volume and a 48% change in PPS in 2 days. Wondering why this stock is taking off, take a look below. Before we do, remember to stop what you are doing and 👇 sign up for our newsletter below. 👇
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Before we get started, I wanted to introduce myself. Hi 🙋♂️ I’m Alexander Goldman and I have been successfully trading breakout stocks and trending stocks for two decades now.
I’m now helping traders find breakout stocks. My claim to fame is the expert at finding trending stocks.
What do I mean by big winners?
Stocks that move more than 100% in a month! AXAS Stock Price could?
Does that always happen, NO! But, I’m very good! Take a look at this article I wrote, where I called 5 stocks, 3 losers and 2 winners and they all did what I thought!
The article is HERE where I shine a spotlight on trending stocks and breakout stocks!
Now, let’s go over if AXAS is the best stock to buy? Below, is some of the basic information on this stock before we get in the technical analysis
Abraxas Petroleum Company Information
Company Name: Abraxas Petroleum Corp.
Ticker: AXAS
Exchange: OTC
Website: http://www.abraxaspetroleum.com/
Abraxas Petroleum Corp. Company Summary:
Abraxas Petroleum Corp. engages in the acquisition, exploration, development, and production of crude oil and natural gas. It focuses primarily on the development of conventional and unconventional resources in its primary operating areas in the Rocky Mountains, South Texas, Powder River Basin, and Permian Basin. The company was founded by Robert L.G. Watson in 1977 and is headquartered in San Antonio, TX.
Is AXAS and if it is the best stock to buy? Let’s look at the News.
Feb 28th
Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (OTCQX:AXAS) today provided the following reserve and operational update. Note that all annual reserve comparisons stated below are for Delaware Basin assets only (all sold Bakken assets were removed from the December 31, 2020 totals). Highlights include:
- Total Proved PV-10 reserves grew 467% to $229 million at December 31, 2021 using SEC pricing
- Reserve Report captures the Company’s Delaware Basin West Texas assets only, post-sale of the Company’s Bakken assets, as previously reported
- Reserve Report doesn’t include additional geologic horizons being pursued by offset operators such as the Woodford/Meramec
- Company has approximately 11k net acres in the heart of the Southern Delaware Basin where it has successfully drilled 23 Wolfcamp/3rd Bone Springs horizontals across 5 distinct geologic benches.
- Company’s leasehold is entirely HBP and includes all depths/rights along with associated water infrastructure
AXAS 5 Day Chart
Abraxas Technical Analysis:
Let’s start off with the obvious, the news was incredible. So what is the answer to the question, is AXAS a good stock to buy? First things first, I’m not a registered broker so I can’t advise someone on whether to buy or not buy a stock. With that being said, I like the stock from a fundamental standpoint. Strong revenues and increases from last quarter.
However, I’m aware that there is more that goes into if a stock goes up than strong fundamentals. For instance, the technical set up at the current moment on the 5 day is looking suspect. I believe the stock will pull back and retrace from here, consolidate and then run again.
I hope I did a good job with my analysis of AXAS and if it is the best stock to buy?
This is Alex, reminding all the traders out there to leave your emotions at the door and never, ever, try to catch a falling knife. I strive to find breakout stock alerts and deliver them before the market finds out. I sure hope you enjoyed this article, if you would like to receive more exclusive content from me 👇 sign up for our newsletter below. 👇
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