Panoro Energy Asa Stock Forecast

Panoro Energy Asa stock price down 0% on Wednesday
(Updated on Jun 19, 2024)

0N08.L Signals & Forecast

The Panoro Energy Asa 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 kr32.60 and kr32.26. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen 0%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Panoro Energy Asa stock

Panoro Energy Asa finds support from accumulated volume at kr31.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved kr0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.43%

Our recommended stop-loss: kr31.38 (-4.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (0N08.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Panoro Energy Asa to open at kr32.80, and during the day (based on 14 day Average True Range), to move between kr31.97 and kr33.63, which gives a possible trading interval of +/-kr0.83 (+/-2.52%) up or down from last closing price. If Panoro Energy Asa takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr33.30 (1.52%) than the support at kr31.80 (3.05%), 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 Panoro Energy Asa stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Panoro Energy Asa stock to perform well in the short-term.

Current score: 1.941 Buy Candidate Unchanged

Predicted Opening Price for Panoro Energy Asa of Thursday, June 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.