Zion Oil & Gas Stock Forecast

Big movements in Zion Oil & Gas stock price on Wednesday moving 14.10% between high and low
(Updated on May 15, 2024)

ZNOG Signals & Forecast

There are few to no technical positive signals at the moment. The Zion Oil & Gas stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0611 and $0.0705. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -34.72%. 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). Zion Oil & Gas 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 Zion Oil & Gas stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0503. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 $0.0076 between high and low, or 14.10%. For the last week, the stock has had daily average volatility of 11.94%.

Zion Oil & Gas is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ZNOG) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Zion Oil & Gas Inc to open at $0.0568, and during the day (based on 14 day Average True Range), to move between $0.0479 and $0.0623, which gives a possible trading interval of +/-$0.0072 (+/-13.01%) up or down from last closing price. If Zion Oil & Gas Inc takes out the full calculated possible swing range there will be an estimated 26.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0594 (7.79%) than the support at $0.0503 (8.71%), 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 Zion Oil & Gas Inc stock A Buy?

The Zion Oil & Gas stock holds several negative signals and despite the positive trend, we believe Zion Oil & Gas will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.205 Sell Candidate Unchanged

Predicted Opening Price for Zion Oil & Gas Inc of Thursday, May 16, 2024

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