ADS:ADNOCDIST
Delisted

Abu Dhabi National Oil Co for Stock Forecast

$2.74
+0.0300 (+1.11%)
At Close: Dec 05, 2019
RSI low/high Values: [ 25 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.

Evaluation of Abu Dhabi National Oil Co for stock downgraded after the last trading session.
(Updated on Dec 05, 2019)

Buy or Hold candidate since Nov 25, 2019 PDF

The Abu Dhabi National Oil Co for stock price gained 1.11% on the last trading day (Thursday, 5th Dec 2019), rising from $2.71 to $2.74. During the last trading day the stock fluctuated 1.11% from a day low at $2.71 to a day high of $2.74. The price has been going up and down for this period, and there has been a 3.01% gain for the last 2 weeks. Volume fell on the last day by -34 thousand shares and in total, 164 thousand shares were bought and sold for approximately $448.61 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $2.71 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $2.82 sometime during the next 3 months.

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ADNOCDIST.UH Signals & Forecast

The Abu Dhabi National Oil Co for 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 $2.71 and $2.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, October 16, 2019, and so far it has risen 5.79%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Friday, November 22, 2019 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Abu Dhabi National Oil Co for stock

Abu Dhabi National Oil Co for finds support from accumulated volume at $2.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0300 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 0.443%

Our recommended stop-loss: $2.65 (-3.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)

Trading Expectations (ADNOCDIST.UH) For The Upcoming Trading Day Of Sunday 8th

For the upcoming trading day on Sunday, 8th we expect Abu Dhabi National Oil Company for Distribution PJSC to open at $2.73, and during the day (based on 14 day Average True Range), to move between $2.72 and $2.76, which gives a possible trading interval of +/-$0.0204 (+/-0.74%) up or down from last closing price. If Abu Dhabi National Oil Company for Distribution PJSC takes out the full calculated possible swing range there will be an estimated 1.49% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $2.70, some $0.0400 (1.46%) from the current price of $2.74, our system finds the risk reward attractive.

Is Abu Dhabi National Oil Company for Distribution PJSC stock A Buy?

Abu Dhabi National Oil Co for 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Abu Dhabi National Oil Company for Distribution PJSC of Sunday, December 8, 2019

Fair opening price December 8, 2019 Current price
$2.73 ( 0.365%) $2.74

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

Trading levels for ADNOCDIST.UH

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 2.76 0.730 %
R2 2.75 0.312 %
R1 2.74 0.0533 %
Current price: 2.74
Support S1 2.72 -0.783 %
S2 2.71 -1.04 %
S3 2.70 -1.46 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 2.74
Support S1 2.70 -1.46%
S2 2.65 -3.28%
S3 2.62 -4.38%

FAQ

What is the symbol for Abu Dhabi National Oil Company for Distribution PJSC Stock and on which exchange is it traded?
The symbol for Abu Dhabi National Oil Company for Distribution PJSC is ADNOCDIST.UH and it is traded on the ADS (Abu Dhabi Securities Exchange).

Should I buy or sell Abu Dhabi National Oil Company for Distribution PJSC Stock?
Abu Dhabi National Oil Co for 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Abu Dhabi National Oil Company for Distribution PJSC Stock?
Abu Dhabi National Oil Company for Distribution PJSC Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Abu Dhabi National Oil Company for Distribution PJSC Stock.

What's the current price of Abu Dhabi National Oil Company for Distribution PJSC Stock?
As of the end of day on the 2019-12-05, the price of an Abu Dhabi National Oil Company for Distribution PJSC (ADNOCDIST.UH) share was $2.74.

What is the 52-week high and low for Abu Dhabi National Oil Company for Distribution PJSC Stock?
The 52-week high for Abu Dhabi National Oil Company for Distribution PJSC Stock is $2.86 and the 52-week low is $2.00.
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