Tag Oil Ltd Stock Forecast
Volatile ride for Tag Oil Ltd stock price on Friday moving between $0.330 and $0.368
(Updated on May 17, 2024)
The Tag Oil Ltd stock price fell by -6.72% on the last day (Friday, 17th May 2024) from $0.362 to $0.337. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 11.45% from a day low at $0.330 to a day high of $0.368. The price has fallen in 6 of the last 10 days and is down by -24.54% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -57 thousand shares and in total, 156 thousand shares were bought and sold for approximately $52.71 thousand.
Given the current short-term trend, the stock is expected to rise 27.46% during the next 3 months and, with a 90% probability hold a price between $0.430 and $0.603 at the end of this 3-month period.
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TAOIF 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 $0.412 and $0.406. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -26.95%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tag Oil Ltd stock
Tag Oil Ltd finds support from accumulated volume at $0.337 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0378 between high and low, or 11.45%. For the last week the stock has had daily average volatility of 9.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAOIF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Tag Oil Ltd to open at $0.345, and during the day (based on 14 day Average True Range), to move between $0.310 and $0.365, which gives a possible trading interval of +/-$0.0275 (+/-8.16%) up or down from last closing price. If Tag Oil Ltd takes out the full calculated possible swing range there will be an estimated 16.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.337 (0.27%) than the resistance at $0.348 (3.05%), 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?
The Tag Oil Ltd stock holds several negative signals and despite the positive trend, we believe Tag Oil Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.938 Sell Candidate Upgraded
Predicted Opening Price for Tag Oil Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.345 ( 2.27%) | $0.337 |
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 | 0.383 | 13.48 % | |
| R2 | 0.368 | 9.20 % | ||
| R1 | 0.360 | 6.55 % | ||
| Current price: | 0.337 | |||
| Support | S1 | 0.331 | -2.01 % | |
| S2 | 0.322 | -4.65 % | ||
| S3 | 0.307 | -8.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.400 | 18.55 % | |
| R2 | 0.362 | 7.20 % | ||
| R1 | 0.348 | 3.05 % | ||
| Current price | 0.337 | |||
| Support | S1 | 0.337 | -0.267% | |
| S2 | 0.333 | -1.30% | ||
| S3 | 0.331 | -2.02% |
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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