Tag Oil Ltd Stock Forecast
Volatile ride for Tag Oil Ltd stock price on Friday moving between $0.423 and $0.466
(Updated on May 03, 2024)
The Tag Oil Ltd stock price gained 1.73% on the last trading day (Friday, 3rd May 2024), rising from $0.440 to $0.447. During the last trading day the stock fluctuated 10.27% from a day low at $0.423 to a day high of $0.466. The price has risen in 6 of the last 10 days and is up by 5.82% 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, 40 thousand more shares were traded than the day before. In total, 46 thousand shares were bought and sold for approximately $20.37 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 32.85% during the next 3 months and, with a 90% probability hold a price between $0.517 and $0.663 at the end of this 3-month period.
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TAOIF Signals & Forecast
The Tag Oil Ltd 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 $0.430 and $0.382. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 39.20%. Further rise is indicated until a new top pivot has been found. Tag Oil Ltd 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Tag Oil Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.350 and $0.348. 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, Tag Oil Ltd finds support just below today's level at $0.350. If this is broken, then the next support from accumulated volume will be at $0.348 and $0.338.
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 $0.0434 between high and low, or 10.27%. For the last week, the stock has had daily average volatility of 6.27%.
Our recommended stop-loss: $0.430 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (TAOIF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Tag Oil Ltd to open at $0.445, and during the day (based on 14 day Average True Range), to move between $0.422 and $0.473, which gives a possible trading interval of +/-$0.0255 (+/-5.71%) up or down from last closing price. If Tag Oil Ltd takes out the full calculated possible swing range there will be an estimated 11.41% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.350, some $0.0971 (21.72%) from the current price of $0.447, our system finds the risk reward attractive.
Is Tag Oil Ltd stock A Buy?
Tag Oil Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.664 Strong Buy Candidate Upgraded
Predicted Opening Price for Tag Oil Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.445 ( 0.418%) | $0.447 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAOIF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.489 | 9.29 % | |
| R2 | 0.472 | 5.58 % | ||
| R1 | 0.462 | 3.29 % | ||
| Current price: | 0.447 | |||
| Support | S1 | 0.429 | -4.13 % | |
| S2 | 0.418 | -6.42 % | ||
| S3 | 0.402 | -10.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.447 | |||
| Support | S1 | 0.350 | -21.72% | |
| S2 | 0.348 | -22.23% | ||
| S3 | 0.338 | -24.33% |
TAOIF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 15, 2020 | Apr 15, 2020 | Apr 15, 2020 | $0.213 | 236.81% |
FAQ
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