Atlantic Sapphire ASA 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
Atlantic Sapphire ASA stock price ended at kr0.91 on Tuesday, after gaining 0.552%.
(Updated on Apr 30, 2024)
The Atlantic Sapphire ASA stock price gained 0.552% on the last trading day (Tuesday, 30th Apr 2024), rising from kr0.91 to kr0.91. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.40% from a day low at kr0.91 to a day high of kr0.95. The price has risen in 7 of the last 10 days and is up by 1.11% 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, 405 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately kr1.61 million.
Given the current short-term trend, the stock is expected to fall -53.65% during the next 3 months and, with a 90% probability hold a price between kr0.179 and kr0.422 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.
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ASA.OL Signals & Forecast
The Atlantic Sapphire ASA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr0.89 and kr0.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 16.07%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Atlantic Sapphire ASA stock
Atlantic Sapphire ASA finds support from accumulated volume at kr0.90 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 kr0.0400 between high and low, or 4.40%. For the last week, the stock has had daily average volatility of 4.54%.
Our recommended stop-loss: kr0.86 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (ASA.OL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Atlantic Sapphire ASA to open at kr0.92, and during the day (based on 14 day Average True Range), to move between kr0.85 and kr0.97, which gives a possible trading interval of +/-kr0.0631 (+/-6.93%) up or down from last closing price. If Atlantic Sapphire ASA takes out the full calculated possible swing range there will be an estimated 13.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr0.91 (0.22%) than the support at kr0.90 (1.10%), 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 Atlantic Sapphire ASA stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.376 Buy Candidate Unchanged
Predicted Opening Price for Atlantic Sapphire ASA of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| kr0.92 ( 1.47%) | kr0.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASA.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.96 | 5.86 % | |
| R2 | 0.95 | 4.18 % | ||
| R1 | 0.94 | 3.14 % | ||
| Current price: | 0.91 | |||
| Support | S1 | 0.91 | -0.214 % | |
| S2 | 0.90 | -1.25 % | ||
| S3 | 0.88 | -2.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.96 | 5.05 % | |
| R2 | 0.95 | 4.40 % | ||
| R1 | 0.91 | 0.220 % | ||
| Current price | 0.91 | |||
| Support | S1 | 0.90 | -1.10% | |
| S2 | 0.84 | -7.36% | ||
| S3 | 0.83 | -8.57% |
FAQ
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