What does the Zion Oil and Gas Stock ZNOG Chart tell us investors?

What does the Zion Oil and Gas Stock ZNOG Chart tell us investors?

This TabStocks post takes an in-depth look at the Zion Oil and Gas stock chart.

We are trying to predict what moves the ZNOG price action might make over the coming weeks.

ZNOG 30 Minutes STOCK CHART

Starting with the 30 minute chart, we can see that the ZNOG stock price is hovering around 23 to 24 cents.

The ZNOG stock has average highs of 25 cents, and had a 28 cents peak on May 06, 2022.

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Today, as I write, the ZNOG stock price is sitting between 22 to 23 cents. And closed 23 cents. 18 May 2022.

There seems to be 13 cents profit takers around 24 to 26 cents.

Those who had bought ZNOG stock from 11 cents to 15 cents range and sell on 25 cents average highs are probably day / swing traders.

The objective of long-term value investors in Zion Oil and Gas should see holders of ZNOG stock sit back and relax while the share price does its thing.

The ZNOG share price is currently on a breakout of its recent all time lows of around 10 cents, and this occurred on the back of no news and permit fears.

ZNOG 1 Hour STOCK CHART

The hourly ZNOG stock chart shows us an average price range of between 23 to 25 cents. This is a good sign for bullish-minded Zion Oil and Gas investors.

The permit was extended and Zion have since stated they seek to obtain another permit in relation to drilling another well.

It appears that, at this pre-testing of MJ-02 stage, for Zion to talk of drilling another well, they are sending signals to the market that they are confident that they could be putting MJ-02 into production after testing.

It was around 16 December 2021 that Zion Oil and Gas stock, ZNOG saw highs of around 27 cents. And on May 4^th 2022, Zion Oil and Gas spiked 27 to 28 cents.

In my view, this is a prime time to top up on Zion Oil and Gas shares if you believe that positive news will follow during and after testing of its MJ-02 well.

I do not think investors and those thinking about investing in ZNOG will be given another opportunity to buy within this 20 to 25 cents range. Certainly not following any big news that could pop at any time.

Such news from Zion Oil and Gas could be in relation to 3D news, pipeline news, and moreover oil encounters in its ‘zones of interest’.

On top of this, we do not know whether Zion drilled sideways; and if so, in how many directions; and at what depths?

We do know that the rig they bought is capable of drilling sideways. And we do know that Zion had invested in equipment in relation to ensuring that the drill bit can remain on target.

I thus deduce that the issues Zion faced was to do with drilling horizontal and not vertical drilling.

If I am correct, this factor alone puts Zion’s operations in a different league in terms of potential commercial oil production numbers.

A healthy well could produce in the range of 5,000 to 10,000 barrels of oil per day. And if the flow rates are strong, maybe even more.

Moreover, if the oil field (I think they are planning to establish) is one in which reserves are absolutely massive. And this gives me goose bumps just thinking about it.

ZNOG Weekly STOCK CHART

The weekly ZNOG stock price chart tells me that ZNOG should have a stable stock price of 28 cents by next week.

13 June 2021 and 05 December 2021 in relation to the current share price.

The pattern is forming and the price of ZNOG should adjust from now to 27 May 2022 to reflect this. I have been analysing stock charts for many years.

ZNOG Monthly STOCK CHART

The monthly ZNOG stock chart tells me that Zion Oil and Gas should be at 50 cents by mid-June. But probably by the end of May 2022.

And, I would expect to see $1 plus by mid-July 2022.

If positive news is released in May and more in June and July then my best guess is a stable price range of $2 to $5.

With possible spikes as high as $20. But certainly a $10 spike is not inconceivable.

No doubt ZNOG stock will experience some downward spikes and following good news, there could be some tree shakes as the stock continues to rise.

But for long-term investors, who had held through 10 cent lows, this should not be a cause for concern.

I would expect -30% max short spikes, on average, as the ZNOG stock price rises, if it rises in a stable way.

There could be lower dips, but mostly only if there are wild spikes towards the moon.

On the whole, at this stage, Zion Oil and Gas is a good play that should deliver healthy profits for traders within the next few months in my view.

But a lot more profits for those in the know, particularly for those Zion Oil and Gas investors who still hold on to the vision of oil.

And, John Brown knows more than he is letting on in my view.

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