Battalion Oil Corp New Stock Forecast
Red day on Tuesday for Battalion Oil Corp New stock after losing 1.13%
(Updated on Jul 02, 2024)
The Battalion Oil Corp New stock price fell by -1.13% on the last day (Tuesday, 2nd Jul 2024) from $3.53 to $3.49. During the last trading day the stock fluctuated 4.25% from a day low at $3.49 to a day high of $3.64. The price has fallen in 6 of the last 10 days and is down by -22.27% for this period. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 thousand shares were bought and sold for approximately $21.59 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 -29.09% during the next 3 months and, with a 90% probability hold a price between $2.08 and $3.68 at the end of this 3-month period.
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BATL Signals & Forecast
There are mixed signals in the stock today. 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 $4.96. On a fall, the stock will find some support from the short-term average at $3.40. 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). Battalion Oil Corp New gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 10.09%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Battalion Oil Corp New stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.26 and $3.21. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Battalion Oil Corp New finds support just below today's level at $3.26. If this is broken, then the next support from accumulated volume will be at $3.21 and $3.17.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.148 between high and low, or 4.25%. For the last week, the stock has had daily average volatility of 5.19%.
Battalion Oil Corp New is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BATL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Battalion Oil Corp New to open at $3.54, and during the day (based on 14 day Average True Range), to move between $3.24 and $3.74, which gives a possible trading interval of +/-$0.251 (+/-7.20%) 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 14.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.53 (1.15%) than the support at $3.26 (6.59%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.167 Sell Candidate Unchanged
Predicted Opening Price for Battalion Oil Corp New of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$3.54 ( 1.42%) | $3.49 |
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 | |
---|---|---|
R3 | 3.69 | 5.67% |
R2 | 3.63 | 4.05% |
R1 | 3.60 | 3.04% |
Price | 3.49 | |
S1 | 3.48 | -0.207% |
S2 | 3.45 | -1.21% |
S3 | 3.39 | -2.83% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.10 | 17.48% |
R2 | 3.61 | 3.44% |
R1 | 3.53 | 1.15% |
Price | 3.49 | |
S1 | 3.26 | -6.59% |
S2 | 3.21 | -8.02% |
S3 | 3.17 | -9.17% |
FAQ
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