NORTHERN OIL AND GAS INC. - Daily - Technical analysis published on 06/26/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 1.94 USD
My targets
1.75 USD (-7.41%)
1.05 USD (-44.44%)
My analysis
NORTHERN OIL AND GAS INC. is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.94 USD. The next support located at 1.75 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1.05 USD. Below this support, sellers could then target 0.65 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
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. rating is 1.89 USD. The price registered a decrease of -2.07% on the session and was between 1.88 USD and 1.97 USD. This implies that the price is at +0.53% from its lowest and at -4.06% from its highest.1.88
1.97
1.89
The Central Gaps scanner detects a bullish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of NORTHERN OIL AND GAS INC. indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.65 | 1.05 | 1.75 | 1.89 | 1.94 | 2.90 | 3.15 |
| Change (%) | -65.61% | -44.44% | -7.41% | - | +2.65% | +53.44% | +66.67% |
| Change | -1.24 | -0.84 | -0.14 | - | +0.05 | +1.01 | +1.26 |
| Level | Minor | Minor | Major | - | 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 | 1.67 | 1.79 | 1.86 | 1.98 | 2.05 | 2.17 | 2.24 |
| Camarilla | 1.88 | 1.90 | 1.91 | 1.93 | 1.95 | 1.96 | 1.98 |
| Woodie | 1.64 | 1.78 | 1.84 | 1.97 | 2.03 | 2.16 | 2.21 |
| Fibonacci | 1.79 | 1.86 | 1.91 | 1.98 | 2.05 | 2.10 | 2.17 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.65 | 1.81 | 1.95 | 2.11 | 2.25 | 2.41 | 2.55 |
| Camarilla | 2.01 | 2.04 | 2.06 | 2.09 | 2.12 | 2.14 | 2.17 |
| Woodie | 1.64 | 1.80 | 1.94 | 2.11 | 2.24 | 2.40 | 2.54 |
| Fibonacci | 1.81 | 1.92 | 2.00 | 2.11 | 2.22 | 2.30 | 2.41 |
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): | 39.90 | |
| MACD (12,26,9): | -0.0600 | |
| Directional Movement: | -4.93 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 1.96 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.26 | |
| Elder Ray (13): | -0.11 | |
| Super Trend (3,10): | 2.33 | |
| Zig ZAG (10): | 1.89 | |
| VORTEX (21): | 0.9300 | |
| Stochastique (14,3,5): | 28.57 | |
| TEMA (21): | 1.99 | |
| Williams %R (14): | -90.48 | |
| Chande Momentum Oscillator (20): | -0.12 | |
| Repulse (5,40,3): | -12.5400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.4900 | |
| Courbe Coppock: | 0.39 |
| MA7: | 2.04 | |
| MA20: | 2.02 | |
| MA50: | 2.26 | |
| MA100: | 2.38 | |
| MAexp7: | 2.00 | |
| MAexp20: | 2.06 | |
| MAexp50: | 2.20 | |
| MAexp100: | 2.35 | |
| Price / MA7: | -7.35% | |
| Price / MA20: | -6.44% | |
| Price / MA50: | -16.37% | |
| Price / MA100: | -20.59% | |
| Price / MAexp7: | -5.50% | |
| Price / MAexp20: | -8.25% | |
| Price / MAexp50: | -14.09% | |
| Price / MAexp100: | -19.57% |
News
The latest news and videos published on NORTHERN OIL AND GAS INC. at the time of the analysis were as follows:
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This member declared not having a position on this financial instrument or a related financial instrument.
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