New Zealand Oil & Gas Limited Stock Forecast
Red day on Monday for New Zealand Oil & Gas Limited stock after losing 0%
(Updated on Jun 24, 2024)
No changes to the price of New Zealand Oil & Gas Limited stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 2.63% from a day low at $0.380 to a day high of $0.390. The price has fallen in 5 of the last 10 days and is down by -2.56% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.377 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.95% during the next 3 months and, with a 90% probability hold a price between $0.328 and $0.371 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NZO.NZ Signals & Forecast
There are mixed signals in the stock today. The New Zealand Oil & Gas Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.386 and $0.404. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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 Wednesday, June 19, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for New Zealand Oil & Gas Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0100 between high and low, or 2.63%. For the last week the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NZO.NZ) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect New Zealand Oil & Gas Limited to open at $0.383, and during the day (based on 14 day Average True Range), to move between $0.369 and $0.391, which gives a possible trading interval of +/-$0.0106 (+/-2.80%) up or down from last closing price. If New Zealand Oil & Gas Limited takes out the full calculated possible swing range there will be an estimated 5.60% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.390, some $0.0100 (2.63%) from the current price of $0.380, our system finds the risk reward not very attractive.
Is New Zealand Oil & Gas Limited stock A Buy?
New Zealand Oil & Gas Limited 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: -1.467 Sell Candidate Unchanged
Predicted Opening Price for New Zealand Oil & Gas Limited of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.383 ( 0.88%) | $0.380 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NZO.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.393 | 3.51% |
| R2 | 0.390 | 2.50% |
| R1 | 0.387 | 1.88% |
| Price | 0.380 | |
| S1 | 0.380 | -0.128% |
| S2 | 0.377 | -0.749% |
| S3 | 0.373 | -1.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.440 | 15.79% |
| R2 | 0.435 | 14.47% |
| R1 | 0.390 | 2.63% |
| Price | 0.380 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
NZO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | Mar 26, 2024 | Apr 10, 2024 | $0.0326 | 7.58% |
| 2 | Oct 20, 2017 | Oct 20, 2017 | Oct 20, 2017 | $0.0381 | 5.48% |
| 3 | May 11, 2017 | May 11, 2017 | May 11, 2017 | $0.598 | 98.01% |
| 4 | Oct 10, 2016 | Oct 10, 2016 | Oct 10, 2016 | $0.0762 | 15.24% |
| 5 | Sep 10, 2014 | Sep 10, 2014 | Sep 10, 2014 | $0.0715 | 9.87% |
FAQ
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