Argeo As Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Argeo As
(Updated on Jun 28, 2024)
The Argeo As stock price fell by -1.76% on the last day (Friday, 28th Jun 2024) from kr14.09 to kr13.85. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.77% from a day low at kr13.78 to a day high of kr14.30. The price has fallen in 7 of the last 10 days but is still up by 328.67% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -25 thousand shares and in total, 183 thousand shares were bought and sold for approximately kr2.53 million.
The stock lies in the middle of a very 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 245.66% during the next 3 months and, with a 90% probability hold a price between kr22.64 and kr61.25 at the end of this 3-month period.
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ARGEO.OL Signals & Forecast
The Argeo As 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 kr14.54. On a fall, the stock will find some support from the long-term average at approximately kr6.33. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, June 21, 2024, and so far it has fallen -8.91%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Argeo As stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved kr0.520 between high and low, or 3.77%. For the last week, the stock has had daily average volatility of 5.07%.
The Argeo As stock is extremely overbought on RSI14 (87). This increases the short-term risk substantially.
Our recommended stop-loss: kr13.12 (-5.26%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (ARGEO.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Argeo As to open at kr13.98, and during the day (based on 14 day Average True Range), to move between kr12.91 and kr14.78, which gives a possible trading interval of +/-kr0.94 (+/-6.78%) up or down from last closing price. If Argeo As takes out the full calculated possible swing range there will be an estimated 13.56% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr14.09, some kr0.248 (1.79%) from the current price of kr13.85, our system finds the risk reward not very attractive.
Is Argeo As stock A Buy?
Argeo As 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.
Current score: 0.139 Hold/Accumulate Unchanged
Predicted Opening Price for Argeo As of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr13.98 ( 0.93%) | kr13.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARGEO.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.50 | 4.69% |
| R2 | 14.30 | 3.26% |
| R1 | 14.17 | 2.37% |
| Price | 13.85 | |
| S1 | 13.78 | -0.501% |
| S2 | 13.65 | -1.39% |
| S3 | 13.46 | -2.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.20 | 9.78% |
| R2 | 14.16 | 2.27% |
| R1 | 14.09 | 1.79% |
| Price | 13.85 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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