I have not checked these Technicals but will need to get my lap top out tomorrow to check. Technicals are no crystal ball but if the trend lines, indicators and moving averages can be insightful. Averaging down at these prices can significantly drop ones average.
Signals From Technical Side:
Given the current short-term trend, the stock is expected to rise 10.12% during the next one month period and, with a 95% probability, hold a price between $0.15 and $0.32 at the end of a two-month period.
Furthermore, there is a strong buy signal from the 90 day Moving Average Convergence Divergence (MACD).
There’s a little bit of noisy negative signals discovered that may have some influence on the near-term development. The Zion Oil & Gas Inc stock holds sell signals from a short term basis but long-term moving averages give a more positive forecast for the stock.
Also, there is strong support below and considering the stock is extremely undervalued, I think the stock should rebound soon.
On corrections to the upside, there will be strong immediate resistance from the lines at $0.15 and $0.18. A clear break-up above any of these levels will issue strong buy signals.
A further fall is limited to downside as the bottom pivot is already more or less been found. Volume fell short along during the last trading day, which technically gives positive signal. I see this as a best buy at this price given the upside potential will exceed even 1000% in two or three years.
$ZNOG Risk To Reward Ratio:
Zion Oil & Gas Inc finds support from an accumulated share of volume at $0.12 and this level is a strong buy and hold opportunity as an upwards spike can be expected from here.
Either there is oil or there is not. Everything has been put in place financially, legally, and operationally to make a major find into a major success for shareholders.
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