Union Jack Oil Plc Forecast and Stock Analysis
Technical UJO.L stock analysis for February 15, 2019.
Union Jack Oil Plc gained 16.33% in the last trading day, rising from £0.12 to £0.14 The price has fallen in 5 of the last 10 days . Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 108.32 million more shares were traded than the day before. In total, 148.21 million shares bought and sold for approximately £21.12 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the UJO.L stock was £0.14. This is 16.33% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 28.26% from a day low at £0.12 to a day high of £0.15.
30 day high of the UJO.L stock price was £0.17 and low was £0.12.
90 day high was £0.17 and low was £0.09.
52 week high for the Union Jack Oil Plc - £0.17 and low - £0.08.
Union Jack Oil Plc 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 34.12% during the next 3 months and, with 90% probability hold a price between £0.17 and £0.22 at the end of this period.
Only positive signals in the chart today. Union Jack Oil Plc holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at £0.13 and £0.13. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday February 12, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 55 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £0.14 and £0.13.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Union Jack Oil Plc finds support just below today's level at £0.14. If this is broken, then the next support from accumulated volume will be at £0.13 and £0.11.
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 £0.03 between high and low, or 28.26%. For the last week, the stock has had a daily average volatility of 9.04%.
Our recommended stoploss: £0.14 (-4.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)
Very Low Low Medium High Very High
Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and 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.