NORTHERN OIL AND GAS INC. - Daily - Technical analysis published on 02/27/2020 (GMT)
- 286
- 0
- Who voted?
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 1.49 USD
My targets
1.35 USD (-5.38%)
1.05 USD (-26.57%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NORTHERN OIL AND GAS INC. as long as the price remains well below 1.49 USD. The sellers” bearish objective is set at 1.35 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.05 USD. In case of crossing, the next objective would be the support located at 0.65 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
FORCE
0
10
7.3
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NORTHERN OIL AND GAS INC. price is 1.43 USD. On the day, this instrument lost -4.03% and was traded between 1.42 USD and 1.53 USD over the period. The price is currently at +0.70% from its lowest and -6.54% from its highest.1.42
1.53
1.43
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NORTHERN OIL AND GAS INC.:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NORTHERN OIL AND GAS INC. in Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
Support of triangle is broken
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 0.65 | 1.05 | 1.43 | 1.58 | 1.81 | 2.19 |
| Change (%) | -54.55% | -26.57% | - | +10.49% | +26.57% | +53.15% |
| Change | -0.78 | -0.38 | - | +0.15 | +0.38 | +0.76 |
| Level | Minor | Minor | - | Major | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.36 | 1.41 | 1.45 | 1.49 | 1.53 | 1.58 | 1.62 |
| Camarilla | 1.47 | 1.47 | 1.48 | 1.49 | 1.50 | 1.51 | 1.51 |
| Woodie | 1.36 | 1.41 | 1.45 | 1.49 | 1.53 | 1.58 | 1.62 |
| Fibonacci | 1.41 | 1.44 | 1.46 | 1.49 | 1.52 | 1.54 | 1.58 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.42 | 1.49 | 1.53 | 1.60 | 1.64 | 1.72 | 1.76 |
| Camarilla | 1.54 | 1.55 | 1.56 | 1.57 | 1.58 | 1.59 | 1.60 |
| Woodie | 1.40 | 1.48 | 1.51 | 1.59 | 1.63 | 1.71 | 1.74 |
| Fibonacci | 1.49 | 1.53 | 1.56 | 1.60 | 1.65 | 1.67 | 1.72 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.54 | 1.05 | 1.35 | 1.86 | 2.16 | 2.67 | 2.97 |
| Camarilla | 1.44 | 1.51 | 1.59 | 1.66 | 1.73 | 1.81 | 1.88 |
| Woodie | 0.45 | 1.00 | 1.26 | 1.81 | 2.07 | 2.62 | 2.88 |
| Fibonacci | 1.05 | 1.36 | 1.55 | 1.86 | 2.17 | 2.36 | 2.67 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 29.24 | |
| MACD (12,26,9): | -0.1000 | |
| Directional Movement: | -18.42 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 1.49 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.70 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 1.75 | |
| Zig ZAG (10): | 1.43 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 16.23 | |
| TEMA (21): | 1.47 | |
| Williams %R (14): | -96.77 | |
| Chande Momentum Oscillator (20): | -0.23 | |
| Repulse (5,40,3): | -8.4500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.7900 | |
| Courbe Coppock: | 15.92 |
| MA7: | 1.55 | |
| MA20: | 1.61 | |
| MA50: | 1.88 | |
| MA100: | 1.91 | |
| MAexp7: | 1.52 | |
| MAexp20: | 1.62 | |
| MAexp50: | 1.77 | |
| MAexp100: | 1.86 | |
| Price / MA7: | -7.74% | |
| Price / MA20: | -11.18% | |
| Price / MA50: | -23.94% | |
| Price / MA100: | -25.13% | |
| Price / MAexp7: | -5.92% | |
| Price / MAexp20: | -11.73% | |
| Price / MAexp50: | -19.21% | |
| Price / MAexp100: | -23.12% |
News
The last news published on NORTHERN OIL AND GAS INC. at the time of the generation of this analysis was as follows:
- Northern Oil and Gas, Inc. Announces Additional Debt Reduction Transactions
- Northern Oil and Gas, Inc. Announces Further Debt Reduction
- Northern Oil and Gas, Inc. Announces Management Transition and Promotions
- Northern Oil and Gas, Inc. Announces Plan to Commence Quarterly Common Stock Dividend
-
Northern Oil and Gas, Inc. - NOG Stock Chart Technical Analysis for 10-22-2019
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis NORTHERN OIL AND GAS INC. - Daily