nathanielx9

NOG is worth a gamble

Long
AMEX:NOG   Northern Oil and Gas, Inc
NOG is a oil and gas company in Minnesota, which is an interest stock that poped up on r/pennystocks and think it might be worth to toss in some money into it. It hasn't perform well at all, yet the reason for this gamble is that the election is coming up and Republicans are pro oil and gas as further green technology is being developed, yet the Democrats want to go full green with their green new deal which could destroy the oil and gas and company.

News
-Elections are coming up this November for the US and Minnesota is a key battleground state. It was Democrat in 2016, yet this year its classified as a battleground state and following 2016 Democrats won with a 1.5% margin. Pretty dam close. Current polls shows that biden was winning by 18, yet now only 2.
Source: https://projects.fivethirtyeight.com/pol...
-ER wasn't great, yet could be due to fact of the covid 19. According to USAtoday as of 8/25, Minnesota is growing in the number of cases.

TA
-Now the upside potential out weights the downside with .6377 being on the table which is a 8.6% drop in price. The upside ranges from 5.7%-50% in the short term from tagets of .742, .8515, and 1.0494.
-This stock is in a long term downtrend, yet high vpvr shows a range of .742-.8515 would be in the realm of possibilities and could be a nice short term trade.
-MACD is rising which is bullish
-RSI is just overbought, yet could be overcome with sideways movements or extreme volatility coming soon.

Final Thoughts
My political view has no affect, yet I would assume a Trump victory would push this stock higher or lower. Whatever party you are a small gamble in a small oil and gas stock from a battle ground state wouldn't be a bad idea. I took a position in this stock today just to see where it goes when we get close to the election/debates/ and after the elctions. If movement starts going up showing massive buys you could suspect the oil sector will being pushing up rapidly. So in the meantime watch the polls, if they are even worth to watch after 2016, to see who Minnesota favors and watch tweets from Trump about Oil and Gas.

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