United Oil & Gas Plc 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 United Oil & Gas Plc stock price on Wednesday moving 29.88% between high and low
(Updated on Jul 03, 2024)
The United Oil & Gas Plc stock price gained 16.47% on the last trading day (Wednesday, 3rd Jul 2024), rising from £0.170 to £0.198. During the last trading day the stock fluctuated 29.88% from a day low at £0.160 to a day high of £0.208. The price has been going up and down for this period, and there has been a -5.71% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately £4.43 million.
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 10.84% during the next 3 months and, with a 90% probability hold a price between £0.179 and £0.291 at the end of this 3-month period.
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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
| Fair opening price July 4, 2024 | Current price |
|---|---|
| £0.189 ( 4.75%) | £0.198 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UOG.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.236 | 19.39% |
| R2 | 0.218 | 10.17% |
| R1 | 0.207 | 4.47% |
| Price | 0.198 | |
| S1 | 0.170 | -13.97% |
| S2 | 0.159 | -19.67% |
| S3 | 0.141 | -28.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.223 | 12.63% |
| R2 | 0.220 | 11.11% |
| R1 | 0.200 | 1.01% |
| Price | 0.198 | |
| S1 | 0.187 | -5.81% |
| S2 | 0.185 | -6.57% |
| S3 | 0.170 | -14.14% |
FAQ
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