Africa Oil Corp. Stock Forecast
Green day on Friday for Africa Oil Corp. stock after gaining 0.103%
(Updated on May 10, 2024)
The Africa Oil Corp. stock price gained 0.103% on the last trading day (Friday, 10th May 2024), rising from kr19.43 to kr19.45. During the last trading day the stock fluctuated 2.45% from a day low at kr19.21 to a day high of kr19.68. The price has risen in 6 of the last 10 days and is up by 5.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 613 thousand more shares were traded than the day before. In total, 840 thousand shares were bought and sold for approximately kr16.35 million.
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 20.72% during the next 3 months and, with a 90% probability hold a price between kr22.24 and kr25.58 at the end of this 3-month period.
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AOI.ST Signals & Forecast
The Africa Oil Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr19.64. On a fall, the stock will find some support from the long-term average at approximately kr19.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. 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, April 30, 2024, and so far it has fallen -3.81%. 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 Africa Oil Corp. stock
Africa Oil Corp. finds support from accumulated volume at kr18.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr0.470 between high and low, or 2.45%. For the last week, the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: kr18.46 (-5.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (AOI.ST) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Africa Oil Corp. to open at kr19.45, and during the day (based on 14 day Average True Range), to move between kr18.92 and kr19.98, which gives a possible trading interval of +/-kr0.525 (+/-2.70%) up or down from last closing price. If Africa Oil Corp. takes out the full calculated possible swing range there will be an estimated 5.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr19.72 (1.39%) than the support at kr18.57 (4.52%), 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.
Earnings coming up
Africa Oil Corp. will release earnings BMO on Wednesday, May 15, 2024.The consensus among the analysts for the expected earnings (EPS) is $6.29. We will update the financials statements for Africa Oil Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.14% in the first trading day after earnings release.
Is Africa Oil Corp. 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 Africa Oil Corp. stock to perform well in the short-term.
Current score: 3.127 Buy Candidate Unchanged
Predicted Opening Price for Africa Oil Corp. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| kr19.45 ( 0.0171%) | kr19.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AOI.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.92 | 2.40 % | |
| R2 | 19.74 | 1.48 % | ||
| R1 | 19.63 | 0.91 % | ||
| Current price: | 19.45 | |||
| Support | S1 | 19.27 | -0.94 % | |
| S2 | 19.16 | -1.51 % | ||
| S3 | 18.98 | -2.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.10 | 3.34 % | |
| R2 | 19.95 | 2.57 % | ||
| R1 | 19.72 | 1.39 % | ||
| Current price | 19.45 | |||
| Support | S1 | 18.57 | -4.52% | |
| S2 | 17.66 | -9.20% | ||
| S3 | 15.45 | -20.57% |
AOI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 28, 2024 | kr0.259 | 1.37% |
| 2 | Mar 10, 2023 | Mar 10, 2023 | Mar 10, 2023 | kr0.0250 | 0.107% |
| 3 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | kr0.0250 | 0.126% |
| 4 | Mar 16, 2022 | Mar 16, 2022 | Mar 16, 2022 | kr0.0250 | 0.153% |
FAQ
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