MCF Forecast and Technical Stock Analysis
Buy candidate since 2019-10-09 Loss -6.06% PDF
Contango Oil & Gas Company gained 3.33% in the last trading day ( Thursday, 17th Oct 2019 ), rising from $2.10 to $2.17 During the day the stock fluctuated 8.87% from a day low at $2.03 to a day high of $2.21. The price has fallen in 5 of the last 10 days and is down by -13.55% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 117 677 more shares were traded than the day before. In total, 267 603 shares bought and sold for approximately $580 698.00.
- 30 day high of the MCF stock price was $3.24 and low was $1.57.
- 90 day high was $3.24 and low was $0.85.
- 52 week high for Contango Oil & Gas Company - $6.08 and low - $0.85.
Contango Oil & Gas Company 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 70.4% during the next 3 months and, with 90% probability hold a price between $2.59 and $5.54 at the end of this period.
Only positive signals in the chart today. Contango Oil & Gas Company holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $2.21. On a fall, the stock will find some support from the long-term average at approximately $1.85. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Wednesday October 16, 2019, which indicates further gains until a new top pivot has been found. Contango Oil & Gas Company 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: [ 25 - 75 ]
RSI14 is 42 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Contango Oil & Gas Company finds support from accumulated volume at $2.16.
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 $0.18 between high and low, or 8.87%. For the last week, the stock has had a daily average volatility of 9.31%.
Our recommended stop-loss: $2.03 (-6.65%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 1 days ago.)
9.31 %Average volatility
Very Low Low Medium High Very High
Contango Oil & Gas Company holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.
|MCF $2.17 ($0.07 3.33%)|
MCF is up $0.07 today, but where's it headed in 2019?
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Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
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