Battalion Oil Corp New Stock Forecast
Green day on Friday for Battalion Oil Corp New
(Updated on May 17, 2024)
The Battalion Oil Corp New stock price gained 0.526% on the last trading day (Friday, 17th May 2024), rising from $5.70 to $5.73. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.75% from a day low at $5.70 to a day high of $5.80. The price has risen in 8 of the last 10 days and is up by 4.37% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately $85.20 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.06% during the next 3 months and, with a 90% probability hold a price between $4.55 and $6.37 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BATL Signals & Forecast
The Battalion Oil Corp New stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.68 and $5.66. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -2.05%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Wednesday, May 15, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, May 15, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Battalion Oil Corp New stock
Battalion Oil Corp New finds support from accumulated volume at $5.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0999 between high and low, or 1.75%. For the last week, the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: $5.49 (-4.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (BATL) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Battalion Oil Corp New to open at $5.74, and during the day (based on 14 day Average True Range), to move between $5.51 and $5.95, which gives a possible trading interval of +/-$0.225 (+/-3.92%) 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 7.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.66 (1.22%) than the resistance at $5.92 (3.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Battalion Oil Corp New stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.788 Buy Candidate Unchanged
Predicted Opening Price for Battalion Oil Corp New of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $5.74 ( 0.232%) | $5.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BATL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.84 | 1.98 % | |
| R2 | 5.81 | 1.31 % | ||
| R1 | 5.78 | 0.90 % | ||
| Current price: | 5.73 | |||
| Support | S1 | 5.71 | -0.434 % | |
| S2 | 5.68 | -0.85 % | ||
| S3 | 5.64 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.09 | 6.28 % | |
| R2 | 6.07 | 5.93 % | ||
| R1 | 5.92 | 3.32 % | ||
| Current price | 5.73 | |||
| Support | S1 | 5.66 | -1.22% | |
| S2 | 5.53 | -3.49% | ||
| S3 | 5.41 | -5.58% |
FAQ
Click here for our free guide on how to buy Battalion Oil Corp New Stock.
