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Contango Oil & Gas Company Forecast and Stock Analysis
Technical MCF stock analysis for Tuesday May 21, 2019.
|Shorts||14.59% ( 2019-04-15 )|
|Price to book||USD 0.69|
|Next Earnings Date||2019-08-04|
Contango Oil & Gas Company gained 1.12% in the last trading day ( Tuesday, 21st May 2019 ), rising from $2.67 to $2.70 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During day the stock fluctuated 8.71% from a day low at $2.64 to a day high of $2.87. The price has fallen in 7 of the last 10 days and is down by -17.43% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 15 715 more shares were traded than the day before. In total, 150 667 shares bought and sold for approximately $406 801.00.
- 30 day high of the MCF stock price was $3.40 and low was $2.50.
- 90 day high was $3.90 and low was $2.50.
- 52 week high for the Contango Oil & Gas Company - $7.32 and low - $2.50.
Contango Oil & Gas Company lies in the middle of a 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 -17.61% during the next 3 months and, with 90% probability hold a price between $2.11 and $2.61 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday May 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Contango Oil & Gas Company holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $2.71 and $3.08. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 39 and the stock is currently not being overbought or oversold
Support & Resistance
Contango Oil & Gas Company finds support from accumulated volume at $2.66.
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 $0.23 between high and low, or 8.71%. For the last week, the stock has had a daily average volatility of 7.61%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
7.61 %Average volatility
Very Low Low Medium High Very High
Contango Oil & Gas Company holds several negative signals and is within a 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.
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|MCF $2.70 ($0.03 1.12%)|
MCF is up $0.03 today, but where's it headed in 2019?
|Zacks Investment Research is releasing its prediction for MCF based on the 1-3 month system that more than doubles the S&P 500.
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