Falcon Oil & Gas Ltd Stock Forecast
Volatile ride for Falcon Oil & Gas Ltd stock price on Thursday moving between £6.63 and £7.60
(Updated on Apr 18, 2024)
The Falcon Oil & Gas Ltd stock price fell by -15.06% on the last day (Thursday, 18th Apr 2024) from £7.80 to £6.63. During the last trading day the stock fluctuated 14.72% from a day low at £6.63 to a day high of £7.60. The price has been going up and down for this period, and there has been a -8.62% loss for the last 2 weeks. Volume has increased on the last day by 78 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 335 thousand shares were bought and sold for approximately £2.22 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.18% during the next 3 months and, with a 90% probability hold a price between £3.92 and £6.84 at the end of this 3-month period.
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FOG.L Signals & Forecast
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. The Falcon Oil & Gas Ltd 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 £7.57 and £8.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -43.38%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Falcon Oil & Gas Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £0.98 between high and low, or 14.72%. For the last week, the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FOG.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Falcon Oil & Gas Ltd to open at £6.95, and during the day (based on 14 day Average True Range), to move between £6.25 and £7.00, which gives a possible trading interval of +/-£0.380 (+/-5.73%) up or down from last closing price. If Falcon Oil & Gas Ltd takes out the full calculated possible swing range there will be an estimated 11.47% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £7.25, some £0.625 (9.43%) from the current price of £6.63, our system finds the risk reward not very attractive.
Earnings coming up
Falcon Oil & Gas Ltd will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Falcon Oil & Gas Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.25% in the first trading day after earnings release.
Is Falcon Oil & Gas Ltd stock A Buy?
Falcon Oil & Gas Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -6.835 Strong Sell Candidate Downgraded
Predicted Opening Price for Falcon Oil & Gas Ltd of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £6.95 ( 4.91%) | £6.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FOG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.93 | 19.62 % | |
| R2 | 7.55 | 14.00 % | ||
| R1 | 7.32 | 10.53 % | ||
| Current price: | 6.63 | |||
| Support | S1 | 6.58 | -0.716 % | |
| S2 | 6.35 | -4.19 % | ||
| S3 | 5.98 | -9.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.76 | 17.12 % | |
| R2 | 7.55 | 13.96 % | ||
| R1 | 7.25 | 9.43 % | ||
| Current price | 6.63 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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