Aker BP ASA Stock Forecast
Aker BP ASA stock downgraded to Hold/Accumulate
(Updated on Jul 02, 2024)
The Aker BP ASA stock price gained 1.05% on the last trading day (Tuesday, 2nd Jul 2024), rising from kr275.40 to kr278.30. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.23% from a day low at kr276.80 to a day high of kr280.20. The price has risen in 9 of the last 10 days and is up by 8.8% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 821 thousand shares were bought and sold for approximately kr228.35 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.
Given the current short-term trend, the stock is expected to fall -9.13% during the next 3 months and, with a 90% probability hold a price between kr227.00 and kr252.90 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AKRBP.OL Signals & Forecast
The Aker BP 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 kr271.21 and kr265.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 9.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Aker BP ASA stock
Aker BP ASA finds support from accumulated volume at kr277.70 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 kr3.40 (1.23%) between high and low. For the last week, the stock has had daily average volatility of 1.27%.
Since the Aker BP ASA has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: kr269.73 (-3.08%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 51 days ago.)
Trading Expectations (AKRBP.OL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Aker BP ASA to open at kr278.43, and during the day (based on 14 day Average True Range), to move between kr273.31 and kr283.29, which gives a possible trading interval of +/-kr4.99 (+/-1.79%) up or down from last closing price. If Aker BP ASA takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr277.70 (0.22%) than the resistance at kr282.80 (1.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aker BP ASA stock A Buy?
Aker BP ASA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Aker BP ASA of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr278.43 ( 0.0479%) | kr278.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKRBP.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 281.83 | 1.27% |
| R2 | 280.53 | 0.80% |
| R1 | 279.73 | 0.515% |
| Price | 278.30 | |
| S1 | 277.13 | -0.419% |
| S2 | 276.33 | -0.707% |
| S3 | 275.03 | -1.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 302.70 | 8.77% |
| R2 | 283.30 | 1.80% |
| R1 | 282.80 | 1.62% |
| Price | 278.30 | |
| S1 | 277.70 | -0.216% |
| S2 | 268.90 | -3.38% |
| S3 | 264.40 | -4.99% |
AKRBP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 08, 2024 | kr6.59 | 2.45% |
| 2 | Feb 13, 2024 | Feb 13, 2024 | Feb 21, 2024 | kr6.34 | 2.44% |
| 3 | Nov 01, 2023 | Nov 01, 2023 | Nov 01, 2023 | kr6.19 | 1.96% |
| 4 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | kr5.66 | 2.11% |
| 5 | May 03, 2023 | May 03, 2023 | May 03, 2023 | kr5.84 | 2.47% |
FAQ
Click here for our free guide on how to buy Aker BP ASA Stock.
