Zion Oil & Gas Inc (ZNOG)

[JasonBourne]

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.