Oil and gas exploration firm Foothills Exploration (OTCMKTS:FTXP) has had a difficult time in the markets over the course of the past week and during that period, the company’s stock has clocked a decline of as much as 30%.
Trading Data
On Tuesday, FTXP stock ended flat at $0.0007 with more than 217.81 million shares, compared to its average volume of 237.70 million shares. The stock has moved within a range of $0.0006 – 0.0008 after opening trade at $0.0007.
Provides Wind River Basin Project Update
Despite the fact that the stock has performed poorly, the company was in the news on Tuesday after it provided an update with regards to its Wind River Basin project. It may be a good time for investors to consider taking a look at the update in order to have a better idea about the situation.
The executive chairman of the company Kevin J Sylla noted that the technical team as well as the management at Foothills were happy with the results that had been produced in the geochemical survey. He went on to state that the results from the survey were in fact positive.
More importantly, he stated that the positive results from the geochemical survey has come as a source of encouragement for the company to continue with it exploration initiative in the Wind River Basin project. It was a positive development for the company and although the stock has performed poorly in recent days, it may not be a bad idea to keep an eye on the Foothills stock.
Technical Data
FTXP stock is trading below the 20-Day and 50-Day Moving averages of $0.0011 and $0.0012 respectively. Moreover, the stock is above 200-Day moving average of $0.0022. The stock is down 30% in the past month.
