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Another 50% upside in Falcon Oil & Gas, says Zak Mir

Technical analyst Zak Mir reckons the Falcon Oil & Gas Ltd (LON:FOG) share price has room to add another 50% over the coming weeks.

“The shares now are very overbought with the RSI [Relative Strength Index] at 89 out of 100 so a cooling off would be expected back towards the low 20s,” explains Mir in the latest segment of the Proactive Investors Bulletin Board.

“At least while we hold above the 20p zone, the best case scenario target here over the next three to six months is as high as 45p.”

 
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