Foothills Exploration Inc (OTCMKTS:FTXP) Set To Bounce?

After a huge run up Foothills Exploration Inc (OTCMKTS:FTXP) has given back all of its weekly gains plus some.

Monday shares of Foothills Exploration Inc (OTCMKTS:FTXP) were up over 100% trading from .0075 to .015. As of 11:40 Friday shares of FTXP are trading down 8% to .0063 off .0006 on the day. This is 58% retracement from its Monday high. So what is next? It appears the blood letting may be over, at least for a bit. Shares have found some support here which is where the big breakout began. Could a bounce be in store? Support areas to keep an eye on may be .0061, .0054 and .0043 and one of these may represent a starting point for move higher. 

Foothills Exploration Inc (OTCMKTS:FTXP) made an announcement earlier this week. Back on Tuesday, the company announced that it has made the submission of the OTCIQ Order Form.

The release states: The Company is focused on becoming compliant and upgrading to the Pink Sheet Current tier on the OTC markets reporting under the Alternative Reporting Standard Guidelines. This is the first in a series of steps the Company is undertaking towards ultimately upgrading its listing back onto the OTCQB. Once the Company obtains OTC Markets’ anticipated approval, it intends to begin filing its financial statements in sequential order as each is completed and expects to perform all necessary filings to become “current” within the next 60 days

It is a positive step as FTXP works towards becoming current on the OTC Pink Sheets. When they do, it is likely to bring about a fair degree of optimism among investors.

Foothills Exploration, Inc. is an oil and gas exploration company focused on natural gas exploration and participating in the global energy transition. The Company’s principal asset located in the Wind River Basin, Wyoming, consists of approximately 16,000 acres of highly prospective development acreage. The Company’s initiative is to generate high-impact exploration projects focused on natural gas.

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