Frontline Ltd Stock Forecast
Frontline Ltd stock price up 1.01% on Friday
(Updated on Apr 19, 2024)
The Frontline Ltd stock price gained 1.01% on the last trading day (Friday, 19th Apr 2024), rising from $22.87 to $23.10. During the last trading day the stock fluctuated 2.00% from a day low at $22.95 to a day high of $23.41. The price has been going up and down for this period, and there has been a -3.43% loss for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 1 million shares were bought and sold for approximately $29.94 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 lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $22.90 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.36% during the next 3 months and, with a 90% probability hold a price between $24.81 and $26.70 at the end of this 3-month period.
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FRO Signals & Forecast
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. The Frontline Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $23.87 and $23.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -5.56%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Frontline Ltd stock
Frontline Ltd finds support from accumulated volume at $22.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.460 (2.00%) between high and low. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FRO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Frontline Ltd to open at $23.15, and during the day (based on 14 day Average True Range), to move between $22.35 and $23.85, which gives a possible trading interval of +/-$0.749 (+/-3.24%) up or down from last closing price. If Frontline Ltd takes out the full calculated possible swing range there will be an estimated 6.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.21 (0.48%) than the support at $22.74 (1.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Frontline Ltd stock A Buy?
The Frontline Ltd stock holds several negative signals and despite the positive trend, we believe Frontline Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.374 Sell Candidate Unchanged
Predicted Opening Price for Frontline Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $23.15 ( 0.231%) | $23.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.61 | 2.22 % | |
| R2 | 23.44 | 1.46 % | ||
| R1 | 23.33 | 0.99 % | ||
| Current price: | 23.10 | |||
| Support | S1 | 22.98 | -0.530 % | |
| S2 | 22.87 | -1.00 % | ||
| S3 | 22.69 | -1.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.92 | 3.55 % | |
| R2 | 23.65 | 2.38 % | ||
| R1 | 23.21 | 0.476 % | ||
| Current price | 23.10 | |||
| Support | S1 | 22.74 | -1.56% | |
| S2 | 22.27 | -3.59% | ||
| S3 | 22.04 | -4.59% |
FRO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 14, 2024 | Mar 27, 2024 | $0.370 | 1.59% |
| 2 | Nov 29, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.300 | 1.50% |
| 3 | Aug 23, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.80 | 4.26% |
| 4 | May 31, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.700 | 4.82% |
| 5 | Feb 28, 2023 | Mar 15, 2023 | Jun 30, 2023 | $1.07 | 7.36% |
FAQ
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