ECO.L Forecast and Technical Stock Analysis
Hold candidate since 2019-08-12 Gain 2.63%
Eco (Atlantic) Oil & Gas Ltd. gained 4.46% in the last trading day ( Friday, 16th Aug 2019 ), rising from £1.12 to £1.17 During the day the stock fluctuated 7.21% from a day low at £1.11 to a day high of £1.19. The price has fallen in 5 of the last 10 days , but is still up by 67.14% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 155 594 more shares were traded than the day before. In total, 994 362 shares bought and sold for approximately £1.16 million.
- 30 day high of the ECO.L stock price was £1.43 and low was £0.66.
- 90 day high was £1.43 and low was £0.66.
- 52 week high for Eco (Atlantic) Oil & Gas Ltd. - £65.25 and low - £0.32.
Eco (Atlantic) Oil & Gas Ltd. has broken the very wide and weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at £0.84, a level that may pose a second chance to hit a runner. According to fan-theory £1.01 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Eco (Atlantic) Oil & Gas Ltd. holds buy signals from both short- and long-term moving averages. In addition, 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 £1.02 and £0.77. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday August 07, 2019, which indicates further gains until a new top pivot has been found. Eco (Atlantic) Oil & Gas Ltd. has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Relative Strength Index (RSI)
RSImin/max Values: [ 20 - 80 ]
The stock holds a RSI14 at 81 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Eco (Atlantic) Oil & Gas Ltd. finds support from accumulated volume at £1.16.
This stock may move much during a 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 £0.08 between high and low, or 7.21%. For the last week, the stock has had a daily average volatility of 12.83%.
The stock is extremely overbought on RSI14 (81). Normally this will pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: £1.10 (-6.13%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from pivot bottom found 7 days ago.)
12.83 %Average volatility
Very Low Low Medium High Very High
Eco (Atlantic) Oil & Gas Ltd. holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level, we recommend to hold or accumulate in this position whilst awaiting further development.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!