United Oil & Gas Plc Stock Forecast
Volatile ride for United Oil & Gas Plc stock price on Wednesday moving between £0.0300 and £0.0400
(Updated on Sep 02, 2020)
The United Oil & Gas Plc stock price gained 33.33% on the last trading day (Wednesday, 2nd Sep 2020), rising from £0.0300 to £0.0400. During the last trading day the stock fluctuated 33.33% from a day low at £0.0300 to a day high of £0.0400. The price has been going up and down for this period, and there has been a 100% gain for the last 2 weeks. Volume fell on the last day by -6 million shares and in total, 22 million shares were bought and sold for approximately £890.31 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to rise 25.00% during the next 3 months and, with a 90% probability hold a price between £0.0400 and £0.0500 at the end of this 3-month period.
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UOG.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, November 30, -1. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not. The United Oil & Gas Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 £0.0286 and £0.0274. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for United Oil & Gas Plc 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.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0.0100 between high and low, or 33.33%. For the last week the stock has had daily average volatility of 13.33%
Our recommended stop-loss: £0 (-5.00%) (Unable to calculate.)
Trading Expectations (UOG.L) For The Upcoming Trading Day Of Thursday 3rd
Is United Oil & Gas Plc stock A Buy?
United Oil & Gas Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for United Oil & Gas Plc of Thursday, September 3, 2020
| Fair opening price September 3, 2020 | Current price |
|---|---|
| £0.0367 ( 8.33%) | £0.0400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UOG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0467 | 16.67 % | |
| R2 | 0.0428 | 7.12 % | ||
| R1 | 0.0405 | 1.22 % | ||
| Current price: | 0.0400 | |||
| Support | S1 | 0.0328 | -17.88 % | |
| S2 | 0.0305 | -23.78 % | ||
| S3 | 0.0267 | -33.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0400 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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