Belships ASA Stock Forecast

Belships ASA stock price down 0% on Friday
(Updated on Jun 21, 2024)

BELCO.OL Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 4.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Belships ASA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr24.02. On a fall, the stock will find some support from the short-term average at kr22.92. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Belships ASA stock

On the downside, the stock finds support just below today's level from accumulated volume at kr21.40 and kr21.30. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Belships ASA finds support just below today's level at kr21.40. If this is broken, then the next support from accumulated volume will be at kr21.30 and kr20.35.

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 kr0.300 between high and low, or 1.30%. For the last week, the stock has had daily average volatility of 2.45%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BELCO.OL) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Belships ASA to open at kr23.25, and during the day (based on 14 day Average True Range), to move between kr22.61 and kr23.89, which gives a possible trading interval of +/-kr0.639 (+/-2.75%) up or down from last closing price. If Belships ASA takes out the full calculated possible swing range there will be an estimated 5.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr24.60 (5.81%) than the support at kr21.40 (7.96%), 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 Belships ASA stock A Buy?

Belships ASA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.967 Sell Candidate Unchanged

Predicted Opening Price for Belships ASA of Monday, June 24, 2024

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