Aker BP ASA Stock Forecast

Aker BP ASA stock price down 1.12% on Thursday
(Updated on May 16, 2024)

AKRBP.OL Signals & Forecast

There are few to no technical positive signals at the moment. The Aker BP ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr271.07 and kr279.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -12.65%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Aker BP ASA stock

Aker BP ASA finds support from accumulated volume at kr262.40 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 kr6.70 (2.53%) between high and low. For the last week, the stock has had daily average volatility of 2.08%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AKRBP.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Aker BP ASA to open at kr266.63, and during the day (based on 14 day Average True Range), to move between kr258.15 and kr270.65, which gives a possible trading interval of +/-kr6.25 (+/-2.36%) up or down from last closing price. If Aker BP ASA takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr265.70 (0.49%) than the support at kr262.40 (0.76%), 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 Aker BP ASA stock A Buy?

The Aker BP ASA stock holds several negative signals and despite the positive trend, we believe Aker BP ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.938 Sell Candidate Unchanged

Predicted Opening Price for Aker BP ASA of Tuesday, May 21, 2024

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