Foothills Exploration Inc (OTCMKTS:FTXP) Stock Continues to Trade in a Narrow Range

On Wednesday, the Foothills Exploration Inc (OTCMKTS:FTXP) stock was trading within a range but that does not mean that it is a stock that is to be ignored. After all, the company was in the news yesterday after it made an announcement yesterday with regards to a solitary corporate update and also its projections for the year 2022.

Trading Data

On Wednesday, FTXP stock ended flat at $0.0007 with more than 112.26 million shares, compared to its average volume of 185.28 million shares. The stock has moved within a range of $0.0006 – 0.0008 after opening trade at $0.0008.

Foothills Exploration Inc. Provides January 2022 Corporate Update

It should be noted that stocks trading in a range can also break out strongly and hence, it may be a good move to look into the announcement from Foothills yesterday.

One of the more important updates provided by the company was with regards to its joint venture HHE Exploration Technologies Ltd. Foothills noted that it had been successful in concluding full integration of the hydrogen sending drone platform and was now on the process of starting the testing its Unmanned Aerial System.

It was a significant announcement from the company and one that ought to be in the minds of investors at this point in time. However, the announcement did not lead to any optimism among investors yesterday. It now remains to be seen if the Foothills stock can eventually break out over the course of the coming days.

Key Quote

“Our multi-sensor UAS identifies and delineates areas, which are geologically optimal for hydrogen generation and exploitation,” said Ty Pfeifer, President of HHE. “This mitigation of drilling risk, resultant lower finding costs and “net zero” aspect of natural hydrogen portends the transition from fossil fuel dependency,” continued Pfeifer. “We are also pleased to announce that the development of our helium detection array is progressing and we anticipate field testing will begin early in the second quarter of the 2022,” continued Pfeifer. “Technology driven advancements will continue to define the evolution of the Company,” ended Pfeifer.

Technical Data

FTXP stock is trading above the 50-Day and 200-Day Moving averages of $0.0007 and $0.0009 respectively. However, the stock is trading below the 200-Day moving average of $0.0017.