Northern Oil and Gas Inc

NOG is in a Stage 2 advancing uptrend with active higher highs and higher lows and rising short-term EMAs signaling a medium-term bullish structure. Short-term price has extended above the rising 9EMA and 21EMA into neutral OB/OS territory, reducing immediate entry edge. Execution favors deferred buying on shallow pullbacks into the rising EMA support zone. Long-term downtrend persists, so entries should remain tactical and timed around key moving average support.

• ↑Q2 2025 free cash flow of $126 million marks 22nd positive quarter
• ↑Q1 production at 148K BOE/day underpins 2026 exit guidance
• ↓Profit margins pressured as volatility erodes net income conversion