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Wajeeh Khan

This Oil Stock Just Soared 130%. Should You Chase Battalion Oil Here?

Oil Battalion

Battalion Oil (BATL) shares more than doubled yesterday, even though the Houston-headquartered independent energy company announced a $15 million private placement. The explosive move pushed BATL’s relative strength index (14-day) to an alarming 95, indicating unusually overbought conditions, which could trigger a sharp reversal in the days ahead. 

Battalion Oil stock is now trading at nearly 7x its price in late February. 

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