Zion Oil & Gas Technical Analysis (NASDAQ:ZN)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. Just by looking at the Zion Oil & Gas stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the ZN stock chart which creates a trading signal.
See Zion Oil & Gas bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Zion Oil & Gas stock analysis.
Zion Oil & Gas Moving Average
Moving averages show the ZN stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $3.79 is above the price of $3.24.
Zion Oil & Gas Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Zion Oil & Gas. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Currently the stock price of $3.24 is in the lower range of Zion Oil & Gas bollinger bands.
Zion Oil & Gas Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Zion Oil & Gas MACD line is above the signal line.
Zion Oil & Gas Relative Strength Index
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. If the RSI of ZN stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.