By Is Zion oil and gas share price an elephant ready to charge?
ZNOG share price action
The Zion oil and gas share price has been creeping up lately. Today in early trading the share price had reached 28 cents (US). This is almost triple that of its 10 cent lows.
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But I think investors in Zion oil and gas have not seen anything yet.
On the OTC, stocks can be very volatile and subject to crazy ups and downs.
It’s fair to say Zion has seen many weeks of bashed down lows. Most of the ZNOG price had been kept down due to lack of news and the slow progress.
But this may not be a bad thing, moreover now that Zion oil and gas is preparing to test a number of zones within it’s MJ-02 well it completed drilling a while back.
From a $1.70ish high (mostly based on pump action) the stock fell to around 10 cents, which represented a -50% reduction of its 20 cents stance it held before the share price began moving proper.
It’s noteworthy that the ZNOG stock moved from 20 cents to over $1.70 in under 10 trading days. But took many weeks to slump under 20 cents to the 10 cent lows.
If history repeats, we could see some massive rises. And these big spikes could start at anytime.
Given there seems to be some big news brewing with Zion oil and gas’ MJ-02 well testing process, with regards to the ‘zones of interest’, and possible big oil and gas discoveries, my price action prediction is as follows:
First ZNOG price action possibility
In the event that Zion oil and gas hits the jackpot, all things considered i.e. it will need funding to put its first well into production; it will need to drill another well; and possibly pay to build an oil pipeline…
I believe ZNOG investors could witness a share price spike as high as $7 within the next 12 weeks. And I would expect the price will drop overtime to around $2, before picking up once again over the course of early 2023.
If oil production news breaks post or before trading hours, the ZNOG stock price could open +$7, and explode to a $20 spike before returning to $7.
If thereafter, Zion oil and gas release news regarding proven oil and/or gas reserves, relating to part of their license area, then the sky is the limit moreover given the current Brent Crude oil price ($110) and what it is predicted to be in the future.
Second ZNOG price action possibility
The news is good, but not so great. In this respect, I see the share price rising to about $2 maybe a bit more. And then falling back to around 40 to 60 cents.
It’s possible from $2 or $2.50 the stock could drop to 20 cents again and then bounce back. It really depends on how much proper good news Zion holds back from private investors.
In any case, I do not think it wise to sell under $2. And I do not think it wise to sell all of one’s Zion holdings. But that’s just my opinion. I’m not a financial adviser. Please do your own research.
This ZNOG play is a pretty big gamble, the more you hold and the longer you hold those shares for, the more you could stand to gain if things turn out rosy.
On the other hand, if the future news turns out to be not that great, then this of course will reflect in the price of the ZNOG stock.
If the elephant has a baby of an oil well it needs to protect, it will stand up and charge at those short-sellers.
Something tells me that most of the shorts have become bulls or about to. The clever money is buying Zion oil and gas shares at this stage, given the upsides could be massive!
If Zion oil and gas transforms into an oil production company, I think we could be looking at an elephant run!
There is the possibility that upon some big breaking news, this ZNOG stock could see $20 high spikes, albethey short-term.
This is why I’m not keen on letting go of too many of my ZNOG shares for a few dollars per share.
I might be able to retire early if ZNOG stock price reaches $20
In my opinion, buying Zion oil and gas shares at this stage, at any price under 60 cents offers excellent value, if decent oil encounter news follows. But of course ZNOG is a risky stock and no outcome is guaranteed.
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