Carrizo Oil & Gas, Inc. (CRZO) Technical Analysis 25/10/2017

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) fell by -0.54% in Tuesday’s trading session from $14.94 to $14.86 and has now fallen 3 consecutive sessions.. The price has fallen in 7 of the last 10 days and is down by -9.61% over the same course of time. Volume has increased in Tuesday’s trading session by 0.53 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 4.19 M shares exchanged hands for about $62.32 million.

Inside CRZO’s Recent Trend

Carrizo Oil & Gas, Inc. (CRZO) enjoys staying at the middle end of a sharp increasing trend in a short period of time and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 14.9% over the course of a quarter and, with 90% chance the price will be floating in the range of $14.44 and $21.12 in this timeframe.

Carrizo Oil & Gas, Inc. Technical Signals

CRZO has witnessed its long term and short term MA triggering a sell signal.. Upon corrections, the price will meet resistance from the averages between $15.68 and $15.30. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Friday October 20, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $13.72 and $13.56. In case of gains, the next resistance from accumulated volume will be at $16.67, $16.91 and $17.25.

It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Carrizo Oil & Gas approaches the first support point just current price at $13.72. In case of a break, the next support we will see from accumulated volume is going to be at $13.56 and $11.38.

Carrizo Oil & Gas, Inc. (CRZO) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.91 between high and low, or 6.21%. The average volatility for the past week stood at 5.91%.

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