With the market down big, it is time once again to point out those few microcaps that refuse to follow the crowd and make gains while all other get beat down. Today’s winner is Challenger Energy (Stock Symbol: CHQ). This stock climbed above most others with a gain of 9.9% on a day that saw the Nasdaq drop 2.3%. This, of course, is an energy stock and in typical fashion doubled in price since May.
Quazimoto points out that a quick Fibonacci calculation would put this in the $7.25 to $7.50 range in a heartbeat.
Challenger Energy Corp. is a Calgary, Alberta, Canada based oil and gas exploration company which is currently focusing on “high impact” oil and gas plays offshore the Republic of Trinidad and Tobago.
