Bakkafrost P-F Stock Forecast
Bakkafrost P-F stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 16, 2024)
The Bakkafrost P-F stock price gained 1.65% on the last trading day (Thursday, 16th May 2024), rising from kr607.00 to kr617.00. During the last trading day the stock fluctuated 2.49% from a day low at kr603.50 to a day high of kr618.50. The price has fallen in 8 of the last 10 days and is down by -9.13% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 62 thousand more shares were traded than the day before. In total, 162 thousand shares were bought and sold for approximately kr100.09 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr606.70 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.48% during the next 3 months and, with a 90% probability hold a price between kr591.62 and kr670.55 at the end of this 3-month period.
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BAKKA.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 1.65%. 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. The Bakkafrost P-F 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 kr619.57 and kr656.89. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bakkafrost P-F stock
Bakkafrost P-F finds support from accumulated volume at kr615.50 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 kr15.00 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: kr582.36 (-5.61%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (BAKKA.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Bakkafrost P-F to open at kr613.00, and during the day (based on 14 day Average True Range), to move between kr599.84 and kr634.16, which gives a possible trading interval of +/-kr17.16 (+/-2.78%) up or down from last closing price. If Bakkafrost P-F takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr615.50 (0.24%) than the resistance at kr650.00 (5.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bakkafrost P-F stock A Buy?
Bakkafrost P-F holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.210 Hold/Accumulate Upgraded
Predicted Opening Price for Bakkafrost P-F of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr613.00 ( 0.648%) | kr617.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAKKA.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 628.00 | 1.78 % | |
| R2 | 622.27 | 0.85 % | ||
| R1 | 618.73 | 0.280 % | ||
| Current price: | 617.00 | |||
| Support | S1 | 607.27 | -1.58 % | |
| S2 | 603.73 | -2.15 % | ||
| S3 | 598.00 | -3.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 660.00 | 6.97 % | |
| R2 | 652.00 | 5.67 % | ||
| R1 | 650.00 | 5.35 % | ||
| Current price | 617.00 | |||
| Support | S1 | 615.50 | -0.243% | |
| S2 | 612.00 | -0.81% | ||
| S3 | 607.00 | -1.62% |
BAKKA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 21, 2024 | kr13.26 | 2.16% |
| 2 | May 02, 2023 | May 02, 2023 | May 02, 2023 | kr14.53 | 1.93% |
| 3 | May 02, 2022 | May 02, 2022 | May 02, 2022 | kr6.70 | 1.06% |
| 4 | Apr 12, 2021 | Apr 12, 2021 | Apr 12, 2021 | kr4.96 | 0.765% |
| 5 | Apr 06, 2020 | Apr 06, 2020 | Apr 06, 2020 | kr8.31 | 1.65% |
FAQ
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