TAG Oil Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in TAG Oil Ltd. stock price on Friday moving 13.33% between high and low
(Updated on May 17, 2024)
The TAG Oil Ltd. stock price fell by -17.27% on the last day (Friday, 17th May 2024) from $0.550 to $0.455. During the last trading day the stock fluctuated 13.33% from a day low at $0.450 to a day high of $0.510. The price has fallen in 5 of the last 10 days and is down by -22.88% for this period. Volume has increased on the last day by 551 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, 551 thousand shares were bought and sold for approximately $250.66 thousand.
Given the current short-term trend, the stock is expected to rise 29.67% during the next 3 months and, with a 90% probability hold a price between $0.590 and $0.85 at the end of this 3-month period.
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TAO.V Signals & Forecast
There are few to no technical positive signals at the moment. The TAG Oil Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.569 and $0.558. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -27.78%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). TAG Oil Ltd. 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".
Support, Risk & Stop-loss for TAG Oil Ltd. stock
TAG Oil Ltd. finds support from accumulated volume at $0.453 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 $0.0600 between high and low, or 13.33%. For the last week, the stock has had daily average volatility of 5.52%.
Our recommended stop-loss: $0.430 (-5.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (TAO.V) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect TAG Oil Ltd. to open at $0.472, and during the day (based on 14 day Average True Range), to move between $0.418 and $0.492, which gives a possible trading interval of +/-$0.0369 (+/-8.10%) up or down from last closing price. If TAG Oil Ltd. takes out the full calculated possible swing range there will be an estimated 16.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.453 (0.55%) than the resistance at $0.480 (5.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TAG Oil Ltd. stock A Buy?
TAG Oil Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for TAG Oil Ltd. of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$0.472 ( 3.66%) | $0.455 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAO.V
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.532 | 16.85 % | |
R2 | 0.509 | 11.81 % | ||
R1 | 0.495 | 8.70 % | ||
Current price: | 0.455 | |||
Support | S1 | 0.449 | -1.37 % | |
S2 | 0.435 | -4.49 % | ||
S3 | 0.412 | -9.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.550 | 20.88 % | |
R2 | 0.490 | 7.69 % | ||
R1 | 0.480 | 5.49 % | ||
Current price | 0.455 | |||
Support | S1 | 0.453 | -0.549% | |
S2 | 0.450 | -1.10% | ||
S3 | 0.435 | -4.40% |
TAO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 15, 2020 | Apr 15, 2020 | Apr 15, 2020 | $0.300 | 230.77% |
2 | May 05, 2017 | May 05, 2017 | May 05, 2017 | $0.0450 | 8.04% |
FAQ
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