Zion oil stock price fluctuated between $0

Zion Oil stock price fluctuated between $0.10 and $0.12 this week, a range indicating consolidation after recent drilling news. Technical traders are watching the 50-day moving average as a potential breakout point, while liquidity remains relatively tight. “Afterwards, the crew will rig down and have the rig’s critical components inspected and recertified prior to moving over MJ-01 and rigging back up. This is estimated to take an additional two to three weeks. While this is ongoing, the crew will mobilise the equipment necessary to re-open the MJ-01 well.” The well is currently undergoing stimulation fluid recovery and cleaning. Zion is actively working to secure additional equipment to continue flowback testing and conduct volumetric analysis to evaluate reservoir characteristics, as part of their ongoing assessment of the well's production potential. Zion Oil stock price saw a notable swing to $0.13 before retracing to $0.11, highlighting the thin order book in small-cap energy names. Chartists note increasing relative strength index (RSI), suggesting a potential overbought signal in the near term.