An interesting stock that came up in some of our conversations today is Zion Oil & Gas, Inc. (NASDAQ:ZN). At current price of $0.35, the shares have already lost -0.02 points (-5.22% lower) from its previous close of $0.37. Should you buy or avoid them? The stock sets an active trading volume day with a reported 465103 contracts so far this session. ZN shares had a relatively better volume day versus average trading capacity of 709.14 thousand shares, but with a 69.67 million float and a 2.78% run over a week, it’s definitely worth keeping an eye on. ZN share price has been trading recently between $0.3455 and $0.44.
The shorts are climbing into Zion Oil & Gas, Inc. (ZN) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in ZN shares. While short interest still represents only 5.32% of ZN’s float, the number of shares shorted have risen by 81615. The number of shares shorted advanced to 3706386 shares, up from 3624771 shares during the preceding fortnight. With average daily trading volumes at 956903 shares, days to cover decreased to about 9.592894 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Zion Oil & Gas Enters into Binding Agreements in Israel” and dated July 17, 2019.
During the recent trading session for Zion Oil & Gas, Inc. (NASDAQ:ZN), the company witnessed their stock drop by $-0.02 over a week and tumble down $-0.03 from the price 20 days ago. When compared to their established 52-week high of $3.43, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/26/18. The recent low of $0.32 stood for a -89.78% since 03/07/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.11 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Zion Oil & Gas, Inc., the two-week RSI stands at 45.68. This figure suggests that ZN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ZN readings is similarly very revealing as it has a stochastic reading of 29.42% at this stage. This figure means that ZN share price today is being overbought.
Technical chart claims that Zion Oil & Gas, Inc. (ZN) would settle between $0.42/share to $0.48/share level. However, if the stock price goes below the $0.33 mark, then the market for Zion Oil & Gas, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.29 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.01. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.