Tengasco Inc Forecast and Stock Analysis
Technical TGC stock analysis for February 21, 2019.
|Shorts||2.31% ( 2019-01-31 )|
Tengasco Inc gained 3.16% in the last trading day, rising from $0.95 to $0.98 The price has fallen in 6 of the last 10 days and is down by -2% for this period. Volume fell in the last day by -10 978 shares, and in total, 11 475 shares bought and sold for approximately $11 245.50. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the TGC stock was $0.98. This is 3.16% more than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 4.21% from a day low at $0.95 to a day high of $0.99.
30 day high of the TGC stock price was $1.03 and low was $0.88.
90 day high was $1.19 and low was $0.70.
52 week high for the Tengasco Inc - $2.47 and low - $0.59.
Tengasco Inc 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 -6.08% during the next 3 months and, with 90% probability hold a price between $0.64 and $1.00 at the end of this period.
Tengasco Inc 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 $0.97 and $0.95. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday February 20, 2019, which indicates further gains until a new top pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 48 and the stock is currently not being overbought or oversold
Support & Resistance
Tengasco Inc finds support from accumulated volume at $0.96.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $0.93 (-4.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
Very Low Low Medium High Very High
Evaluation: Buy Candidate
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.