By Zion Oil & Gas ZNOG Stock Price Update
At the time of writing (30 Aug 2022) the Zion Oil & Gas ‘ZNOG’ closed just above $0.15 (US cents).
The ZNOG share price began to fall on the 16 AUG 2022 and hit a new recent low of just above 15 cents last seen on 18 April 2022.
The ZNOG stock held its ground for 4 months reaching highs of 35 cents and over this period averaging around 22 cents.
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The current share price offers good value for swing traders who believe the ZNOG share price will break 30 cents again.
When we consider the extensive testing phase of the MJ02 Well Zion Oil & Gas in undertaking, it’s clear that news will take a few months to reach investors.
At present there hasn’t been any updates from Zion Oil & Gas in relation to the Well testing.
This means that some short-term investors pulled out and some who held sold on the recent fall through fear of bad news breaking.
At this stage I’m of the view that no news is good news. Hopefully Zion will hold back the good news.
Now it’s noteworthy that there are a few zones of interest within Zion’s target area. Given the complexities of testing a deep Well it’s clear the Zion Oil & Gas have hired experts in this field.
In this respect there are two areas pre news investors should keep a lookout for.
The first is of course the share price. But one of the big giveaways is the action at the site. And there are some interested parties observing the Zion Oil & Gas site from time to time.
If the ZNOG stock price shoots up in conjunction with activity at the Zion Well site then it’s fair to say that Zion has struck oil.
Though Zion Oil & Gas may have already struck oil of course when they drilled deeper. If you’ve read our other ZNOG Articles on TabStocks about Zion you would have no doubt read about why we believe the ZNOG price rose towards the end of the drilling phase.
In my view, if you believe in good results, then the current ZNOG buy share price at just below 16 cents is a steal. Moreover if you are willing to buy to hold for the long-term.
If you are a day / swing trader, again, the current ZNOG stock price is a buyers market if you can sit through the swings and look into the future of a double the share price.
You may expect a lot more from Zion Oil & Gas, but I feel this may come in 2023 or begin at the tail end of 2022.
The good thing about the Zion stock is that they have a massive following. Therefore there’s always tonnes of cash flowing in and out of the ZNOG stock.
If good news comes, it’s likely to come in waves which will no doubt send the ZNOG share price rocketing like never before.
Zion Oil & Gas are going to need to maximise publicity based on good news in order to raise the funds it needs by adding new shares.
Zion Oil & Gas will need to produce oil based on a good testing outcome and this will cost money. They will also need funds to drill another well they have their eyes set on in 2023.
I wouldn’t put your house on it, but if you’ve got a few dollars hanging around and you like the trill of the gamble. This penny stock could be the one for you.
In my view, the recent mini ZNOG stock crash is a normal price action cycle when viewed over many months.
Zion Oil & Gas could be a decent long-term winner if in the short-term the company have some success with its current MJ02 Well in Israel.
Am I buying more ZNOG shares? I’d like to, but one of the trading platforms I’m using where I hold some Zion shares (Trading 212) are not allowing investors to buy ZNOG stock, only to sell shares.
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