Zion Oil & Gas Inc (ZNOG)

[Moses1492]

1/31/20 ZN Trade of the Day:

Good morning everyone. More of the same as yesterday. Market DOW trending down 150 points & oil prices are also hovering in the mid $52's - but OPEC is set to meet early to discuss more production reductions so be aware. The short sale volume percent (not short interest) for stock ticker ZN is 64% on Jan 30, 2020. The short sale volume is 847,418. The total volume is 1,333,377. The short sale volume percent is up 6% compare to Jan 29, 2020.


Today ZN is still seeking to find price support. ZN continues to trade in line with oil futures which are now trending in the mid $52 range. Continue to watch crude oil price closely signaling strength or breakdown which will lead oil stocks as OPEC is set to meet earlier than originally expected. ZN pps has been trending in direct alignment with other oil stocks such as RIG and SDRL.

NOTE that ZN volume was still relatively light 1/30/2020. Look for increase in volume to confirm uptrend breakout - if not look for the continued scalping under 25 cents.

Short volume % is now trending negative (back up to 64 from 58 yesterday%). ZN candle continues to hover at indecisive inflection point at close of day 1/30/2020. Should oil continue to rally, we should likewise rally in addition to short covering driving price support. Today buy the ZN dips .23-.24 and watch for key high volume bottom confirmation!

I'm scalping the dips at .23-.24 today and looking for support back to .26-.27 by end of day.

SPECIAL NOTE: ***ZN is news driven and a new update is due any day***

http://shortvolumes.com/?t=zn