Awilco Drilling PLC Stock Forecast

Red day on Friday for Awilco Drilling PLC stock after losing 2.48%
(Updated on May 31, 2024)

AWDR.OL Signals & Forecast

The Awilco Drilling PLC 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 kr20.26. On a fall, the stock will find some support from the long-term average at approximately kr17.13. 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. 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 Monday, May 13, 2024, and so far it has fallen -10.05%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Awilco Drilling PLC stock

On the downside, the stock finds support just below today's level from accumulated volume at kr16.95 and kr14.80. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at kr14.80 may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved kr0.550 between high and low, or 2.80%. For the last week the stock has had daily average volatility of 2.32%.

Our recommended stop-loss: kr18.49 (-6.14%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 30 days ago.)

Trading Expectations (AWDR.OL) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Awilco Drilling PLC to open at kr19.85, and during the day (based on 14 day Average True Range), to move between kr18.82 and kr20.58, which gives a possible trading interval of +/-kr0.88 (+/-4.47%) up or down from last closing price. If Awilco Drilling PLC takes out the full calculated possible swing range there will be an estimated 8.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr19.85 (0.76%) than the support at kr16.95 (13.96%), 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 Awilco Drilling PLC 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 Awilco Drilling PLC stock to perform well in the short-term.

Current score: 2.381 Buy Candidate Unchanged

Predicted Opening Price for Awilco Drilling PLC of Monday, June 3, 2024

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