United Oil & Gas Plc Stock Forecast

Big movements in United Oil & Gas Plc stock price on Wednesday moving 29.88% between high and low
(Updated on Jul 03, 2024)

UOG.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 23.75%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The United Oil & Gas Plc 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 £0.200. On a fall, the stock will find some support from the short-term average at £0.175. 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.

Support, Risk & Stop-loss for United Oil & Gas Plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £0.187 and £0.185. 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, United Oil & Gas Plc finds support just below today's level at £0.187. If this is broken, then the next support from accumulated volume will be at £0.185 and £0.170.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.0478 between high and low, or 29.88%. For the last week, the stock has had daily average volatility of 13.74%.

Our recommended stop-loss: £0.190 (-3.90%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (UOG.L) For The Upcoming Trading Day Of Thursday 4th

For the upcoming trading day on Thursday, 4th we expect United Oil & Gas Plc to open at £0.189, and during the day (based on 14 day Average True Range), to move between £0.173 and £0.223, which gives a possible trading interval of +/-£0.0252 (+/-12.75%) up or down from last closing price. If United Oil & Gas Plc takes out the full calculated possible swing range there will be an estimated 25.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.200 (1.01%) than the support at £0.187 (5.81%), 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 United Oil & Gas Plc stock A Buy?

United Oil & Gas Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.455 Hold/Accumulate Upgraded

Predicted Opening Price for United Oil & Gas Plc of Thursday, July 4, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.