Zion Oil & Gas Inc (OTCMKTS:ZNOG) Stock Moves Up After Key Updates

Sometimes stocks may clock exceptional gains without there being any news at all about the company and that is what happened with the Zion Oil & Gas Inc (OTCMKTS:ZNOG) stock on Friday. There has been no news at all about the company since as far back as November 2021 but the stock emerged as a major mover on Friday.

Market Stats

On Friday, ZNOG stock moved up 7% to $0.1319 with more than 1.96 million shares, compared to its average volume of 3.86 million shares. The stock moved within a range of $0.1151 – 0.1320 after opening trading at $0.12.

Traders Corner

NWBO stock is trading above the 20-Day and 50-Day Moving averages of $0.91 and $0.83 respectively. However, the stock is trading below the 200-Day moving average of $1.16.

Latest Buzz

As investors piled on to it in a big way the stock ended the day with gains of as much as 17%. Considering the fact that there was no news it may be a good time to take a look at the announcement from the company back on November 23 last year.

At the time the company announced that it had managed to complete the drilling activity phase at the Megiddo-Jezreel well. The completion of the drilling activities was a major announcement from the company and may have come as a source of considerable optimism among investors at the time.

However, it is unlikely that the announcement actually had a major effect on the rally that was seen in the stock on Friday. It will be interesting to see if the stock correctors today or rallies further.

Traders Corner

ZNOG stock is trading below the 20-Day and 50-Day Moving averages of $0.13 and $0.15 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.25.