Zion Oil Stock Continues Upward Trend
April 24, 2011 by admin
Zion Oil & Gas Stock (ZN, NASDAQ) continues to rise since it’s six month low of $4.31 back in January. On March 2nd of this year Zion stock shot to $5.81 after broadcast media interviews and print news articles with Founder John Brown and CEO Richard Rinberg during the National Religious Broadcasters convention in Nashville.
Zion stock settled down under $5.00 during much of March and then began to climb in April, topping at $5.40 after April 14 news of Israel awarding Zion Oil & Gas the Jordan Valley exploration license. Zion stock on the last day of trading since this report finished at $5.37.
Trading analyst, SmarTrend, announced Thursday that their ’uptrend’ call has been “vindicated” by Zion’s recent stock performance.
So what does this mean to those of us who aren’t Wall Street day traders or stock analysts? I’m not sure – I’m not one of those guys. I own Zion Oil stock because I believe in what they’re doing and I believe in the nation of Israel. Zion’s vision is to find oil in Israel and provide for the nation’s domestic energy needs through that(those) discovery(ies).
What about the daily ups and downs of Zion’s stock? At this point, who cares? I figure that an oil company’s stock value isn’t really all that important until they’ve either discovered oil and/or gas, or they give up looking. Zion hasn’t made a discovery (yet) and they sure as heck haven’t shown any signs of giving up. Until one or the other happens, I’m all in.
*Reminder – the editor of www.OilinIsrael.net is not an investment consultant or a stockbroker (not even close). For investment advice see your financial counselor, or better yet – if you’re a believer in Israel’s G-d, seek His advice.