AleksandrLombrozo

GNE test its triple bottom

Long
NYSE:GNE   Genie Energy Ltd
Genie Energy Ltd . ( GNE ) is undergoing bad times since it is involved in oil and gas exploration and is deeply correlated with oil prices. However the stock has approached its triple bottom area and seems to be testing this zone for almost eight weeks in a row. Apart from that the company reported second-quarter net income of $3.5 million, after reporting a loss in the same period a year earlier.
This gives us a robust indication GNE will rise at least to its previous zone of resistance at $8.10.

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