Golar LNG Stock Forecast
Golar LNG stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Golar LNG stock price gained 0.99% on the last trading day (Tuesday, 23rd Apr 2024), rising from $25.29 to $25.54. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.74% from a day low at $25.04 to a day high of $25.73. The price has been going up and down for this period, and there has been a 1.51% gain for the last 2 weeks. Volume fell on the last day by -444 thousand shares and in total, 475 thousand shares were bought and sold for approximately $12.13 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.01% during the next 3 months and, with a 90% probability hold a price between $27.60 and $32.70 at the end of this 3-month period.
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GLNG Signals & Forecast
The Golar LNG stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $25.01 and $24.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 29, 2024, and so far it has risen 25.87%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Golar LNG stock
On the downside, the stock finds support just below today's level from accumulated volume at $23.66 and $23.24. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Golar LNG finds support just below today's level at $23.66. If this is broken, then the next support from accumulated volume will be at $23.24 and $20.29.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.685 (2.74%) between high and low. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: $24.69 (-3.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (GLNG) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Golar LNG Limited to open at $25.44, and during the day (based on 14 day Average True Range), to move between $24.93 and $26.15, which gives a possible trading interval of +/-$0.614 (+/-2.40%) up or down from last closing price. If Golar LNG Limited takes out the full calculated possible swing range there will be an estimated 4.81% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $23.66, some $1.88 (7.36%) from the current price of $25.54, our system finds the risk reward attractive.
Is Golar LNG Limited stock A Buy?
Golar LNG holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.896 Strong Buy Candidate Upgraded
Predicted Opening Price for Golar LNG Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $25.44 ( 0.411%) | $25.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLNG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.12 | 2.27 % | |
| R2 | 25.86 | 1.25 % | ||
| R1 | 25.70 | 0.613 % | ||
| Current price: | 25.54 | |||
| Support | S1 | 25.17 | -1.44 % | |
| S2 | 25.01 | -2.07 % | ||
| S3 | 24.75 | -3.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 25.54 | |||
| Support | S1 | 23.66 | -7.36% | |
| S2 | 23.24 | -9.01% | ||
| S3 | 20.29 | -20.56% |
GLNG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Mar 11, 2024 | Mar 20, 2024 | $0.250 | 1.02% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Dec 11, 2023 | $0.250 | 1.20% |
| 3 | Aug 10, 2023 | Aug 18, 2023 | Aug 29, 2023 | $0.250 | 1.14% |
| 4 | May 30, 2023 | Jun 09, 2023 | Jun 16, 2023 | $0.250 | 1.16% |
| 5 | May 21, 2019 | Jun 12, 2019 | Jul 03, 2019 | $0.150 | 0.84% |
FAQ
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