Over the course of the past few days, the Petroteq Energy Inc (OTCMKTS:PQEFF) stock has been trading within a range but that does not mean that it is a stock that is to be ignored. After all, a stock trading in a range can eventually breakout as well.
There has been no new about the company this week so far but last week the integrated oil company announced the completion of a Front End Engineering and Design Study by Crosstrails Engineering LLC. The study was for a planned facility that is going to product as much as 5000 barrels of oil per day. At that facility in question, the Clean Oil Recovery Technology from Petroteq is going to deployed.
The company is going to receive the results from that study soon. It goes without saying that the completion of the study marks a major breakthrough for Petroteq and further developments with regards to it might be of considerable interest to many investors. Although the stock is moving in a range at this point in time, it might be a good idea to keep the stock in your watch list and keep a close eye on any news regarding Petroteq.
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