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ZN exhibiting an interesting pattern here...
Extreme market indecision is causing this to bounce up and down rapidly. The stock is in a basing pattern between the $3.05 and the $3.85 levels.
If the stock can reach $3.85 and break through it decisively... I'm thinking we will see a huge surge in price and volume expansion here.
*music intensifies*
I think another red day tomorrow. Only filled a little at around 3.30 today
I'm looking to acquire shares at this price point. It's doing exactly as i predicted.
She didn't pullback as much as I had anticipated this morning. Perhaps a bit more strength to this than I had originally thought.
I'm really looking for a good entry point. Might have to wait for tomorrow, I hear that most daytraders leave their positions on a Friday, could be an opportunity there.
ey, you still alive? I'm sure these next few days will be super interesting
The ultimate showdown.. who will be victorious?!
Tune in tomorrow morning folks for the dramatic and exciting conclusion to this clash of Titans!! You don't wanna miss it!
I'd bet money tomorrow we will see red.
I really think it will provide a good pullback opportunity for longs.
A picture of Rising Wedge Pattern on daily.
Notice how the stock has technically broken down from it already, although it hasn't really shown decisive downward movement just yet. I'm expecting that to happen tomorrow morning.
The blue line is significant support at the $3.30. If the downward movement is enough it will likely touch, or retest just above, the blue line.
Definitely possible. I'm just trying to read the chart from an objective point of view. I'm not currently long or short on this one, although I am looking to possibly go long in the next couple days if opportunity presents itself. I think this one is very interesting to watch.
My best guess as to the direction of this stock would be this:
Short term (1 day): Bearish due to a Rising wedge pattern. I believe that the stock will fall a bit from its current price and provide an opportunity for longs to enter. This may be where I try to make an entry.
Medium term (1-2 weeks): Bullish. Breakout of a saucer formation on good volume signifies a reversal-type pattern. Also, it is breaking out of the downtrend line on the daily from the past 6 weeks, another good sign.
No idea on the long term, though. I think that will depend on Zion's press release content.
You're incorrect. An ascending triangle does not possess higher highs in its formation.
I suspect tomorrow morning we see a drop in price to retest prior resistance now turned support at around the 3.30-3.40 range.
Stock looks like its going to retrace back a bit here.
Forming a rising wedge. Should retest the $3.30 area by tomorrow.
Honestly? I think you may be on to something.
ZN looks really bullish from my perspective. Broke out of a saucer formation today and without any new news too. This next move could be very very significant.
wow. zion looks really interesting atm
im tempted... very tempted
They aren't doing this on purpose, right?
im guessing a lot of companies must post their financials late maybe
What happens if no financials by the deadline?
I dont understand why they haven't posted it yet...
Thanks kid-gloves.
I'm sorry for kinda bashing on you earlier, too, I didn't really mean it. I'm a bit too skeptical sometimes.
Honestly hope you make a good chunk on this next move up yoda. I really like you dude.
If ZN ends up going up, I'll still have learned something from all this anyway, so I'm ok with that.
mm, I admit maybe it's not the best thing people want to hear. So, didnt mean to get your spirits down if i did.
I don't doubt there's a good chance for a pop here. The reason for my exit is that, I'm really mostly a technical type of trader, I like to trade the swings and trends. The trend on this one just makes me a bit uneasy. I'd rather just sit on the sidelines and kinda watch it from a distance. If there's a nice movement for an entry I'll definitely look to re-enter. That's kinda my reasoning.
Closed out of the rest of my position today. didn't lose too much so its all good.
May return if any strength shows, but this stock doesn't seem that healthy. I'm assuming tomorrow we will see a break of the $3.30 which will lead to the $3 immediately and possibly lower.
We'll see how the stock fares as we approach the next news release in the next 2 weeks.
Zion may be forming a falling wedge here.
From a technical perspective:
A) The Stochastics and RSI indicators are displaying a bullish divergence as the stock is trading down.
B) The trendlines that tracks the lows of the stock are getting flatter as the wedge completes the formation.
both A and B imply selling pressure is starting to wane.
A short squeeze is possible here, as long as Zion does not post any negative news, and assuming that the warrants that are going to be available Monday are not going to impact the share price significantly.
Stock does look fairly primed though for a bounce.
Interesting Probabilty you may want to know..
" CHANCES OF SUCCESS* OF EXPLORATION WELLS
*Success rate (meaning the hydrocarbon discovery in a significant amount) of exploration wells are:
> New areas (with no previous exploration): 10 to 20%
> Geologically known areas: 20 to 30%
> Areas close to production zones: around 60%
"
Source: http://www.ifp-school.com/upload/docs/application/pdf/2015-02/5_exploration_well.pdf
Technically, Zion is close to a production zone, right? 25 miles off from where Genie discovered a massive reserve. According to this article, are we looking at a 60% chance of discovery of hydrocarbons here?
I can see it now....
"ZION Oil and Gas is pleased to announce that in multiple of the sidewall cores the discovery of trace amounts of crude oil in testing samples..."
With the number of shorts in this stock, and a news release like that... Zion would go boom ... very much boom.
Again, can't really expect something like that to necessarily happen. That's just the best case scenario here I think
Yeah, it does look promising. ZN is on close watch here for the next couple weeks.
Yeah, it seems ok so far. I honestly thought the drill would be much further down at this point than the 5,850 feet they're at currently.
If people on the inside get the results before the general public, they may buy up shares before they release it in a PR, which could cause the price to go past 3.85.
I'm not sure if they'd have to disclose the buying portion of it though.
If Zions clears 3.85 most likely
it will be a positive update. More than likely...
Zion is breaking above $3.60
Interesting... and unusual. Maybe somebody knows something we don't
I'm just wondering...
How could they not know what the results are from the logging data yet? Is that why they're asking people to pray? Because it's not finished yet?
Something is just super off... No way they're still doing testing at this point... How long did it take them to get results from the 2009 drilling?
Somebody should go look into the dates of the initial sampling for logging and the date of the PR for the logging results from 2009. The difference in time should give us an approximation of when to expect the logging data for the 2017 drilling.
B-b-but what about the INTELLECTUAL PROPERTY of EPGL???
Maybe the patents aren't worth anything, but the IP for SMART LENSES is worth at least $500m!!!
It's a Company that finds oil based on "prayer"
I mean, cmon man...
By now their logging data should be completed.
Now, why would they make an email telling everyone to pray after they already know what they've found...?
hmmm....
Prepare for the onslaught!
If mCig can hold the 0.233 today
it will be in a good position for tomorrow's trade to rebound. Looks likely that it will hold just judging by the first half hour of trading.
I disagree. I think tomorrow brings more red.
I think today's selloff volume was a bit more than I had anticipated.. Stock will likely test the $0.22 level tomorrow and might even break it. Not good.
We'll have to see how much interest there is in terms of buying tomorrow at the 0.22.
Overall, mCig is bullish to me, although it depends.
mCig needs to hold the prior low at $0.22 to make this retracement a "bounce" and not a trend reversal. I suspect it will hold the 50 ema on the daily and if it does, will likely retest the prior two highs at the $0.28 level and likely breakout on good volume.
I think the marijuana sector in particular is getting a lot of hype from all the expansions into new markets that did not used to exist (due to restrictions from state/federal). The marijuana stocks that are aggressively looking to seize this opportunity to expand will benefit the most from these new regulations, which mCig is certainly doing. So on a fundmental basis, mCig looks good.
From a technical perspective, this stock looks to be making a retracement, and not a full reversal of trend. Again, the $0.22 level is the important level to watch here. If that breaks, it's a bad sign.
I believe tomorrow will bring a lower consolidation day above the $0.23 level, which is current 50 EMA support. Judging by the amount of sell volume today, though, I can't be sure that it's not a reversal. That was a lot of selloff today...
Literally everything hinges on this next news update.
Minor stock movements don't mean much at this point in time. The stock is simply "drifting" at this point (slightly negative trend overall). Just have to be patient to see what management can do to influence the share price of the stock.
I hope management provides a good update this week. Not for myself, but for the people here who have been waiting patiently and been supporting them.
My own gut instinct here is, though, that Zion's management is uneasy right now and not sure of what they're going to say to shareholders to appease them.
Of course, nobody knows what they are going to say. We can only speculate and wait.
Told you today would be red :^)
Zion needs to break the $3.90-$4.00 price point.
This is the pivotal key of resistance for it to make this rebound move significant.
That's a good patent you got there Donguri!
Now all you need is 2 more brilliant patents and to do a public IPO of your company. Next, grab some social media accounts and start publicizing how you have three amazing, game-changing patents that are valued at $500m and how you have been having these serious negotiations with the BIG BOYS and how it's leading to them wanting your patents (even though they aren't actually interested in buying any of them).
You are now ready to become a successful businessman like Michael Hayes! Congratulations!
Oh, and don't forget the part where you dump all your shares after your stock surges up on volume from all the hype news! That's the most important part to being successful like Michael Hayes.