Battalion Oil Corp New Stock Forecast

Big movements in Battalion Oil Corp New stock price on Friday moving 10.70% between high and low
(Updated on May 03, 2024)

BATL Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 9.80%. Further rise is indicated until a new top pivot has been found. Battalion Oil Corp New has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Battalion Oil Corp New stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.67. On a fall, the stock will find some support from the short-term average at $5.23. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Battalion Oil Corp New stock

Battalion Oil Corp New finds support from accumulated volume at $5.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.550 between high and low, or 10.70%. For the last week, the stock has had daily average volatility of 3.77%.

Our recommended stop-loss: $5.28 (-3.88%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (BATL) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Battalion Oil Corp New to open at $5.44, and during the day (based on 14 day Average True Range), to move between $5.21 and $5.77, which gives a possible trading interval of +/-$0.279 (+/-5.08%) up or down from last closing price. If Battalion Oil Corp New takes out the full calculated possible swing range there will be an estimated 10.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.53 (0.73%) than the support at $5.42 (1.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Battalion Oil Corp New stock A Buy?

Battalion Oil Corp New holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.213 Hold/Accumulate Upgraded

Predicted Opening Price for Battalion Oil Corp New of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.