BEWi ASA Stock Forecast
A very red day for BEWi ASA stock price after a -6.46% fall in the Thursday trading session
(Updated on May 16, 2024)
The BEWi ASA stock price fell by -6.46% on the last day (Thursday, 16th May 2024) from kr33.30 to kr31.15. During the last trading day the stock fluctuated 5.40% from a day low at kr30.55 to a day high of kr32.20. The price has risen in 6 of the last 10 days and is up by 5.95% over the past 2 weeks. Volume has increased on the last day by 17 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 84 thousand shares were bought and sold for approximately kr2.61 million.
The stock lies in the middle of a 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 15.32% during the next 3 months and, with a 90% probability hold a price between kr34.27 and kr42.12 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BEWI.OL Signals & Forecast
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. The BEWi ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr32.08 and kr31.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -8.38%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for BEWi ASA stock
On the downside, the stock finds support just below today's level from accumulated volume at kr29.00 and kr27.05. 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, BEWi ASA finds support just below today's level at kr29.00. If this is broken, then the next support from accumulated volume will be at kr27.05 and kr27.00.
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 kr1.65 between high and low, or 5.40%. For the last week, the stock has had daily average volatility of 5.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BEWI.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect BEWi ASA to open at kr31.30, and during the day (based on 14 day Average True Range), to move between kr29.65 and kr32.65, which gives a possible trading interval of +/-kr1.50 (+/-4.80%) up or down from last closing price. If BEWi ASA takes out the full calculated possible swing range there will be an estimated 9.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr31.45 (0.96%) than the support at kr29.00 (6.90%), 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 BEWi ASA stock A Buy?
The BEWi ASA stock holds several negative signals and despite the positive trend, we believe BEWi ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.880 Sell Candidate Downgraded
Predicted Opening Price for BEWi ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr31.30 ( 0.482%) | kr31.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEWI.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.95 | 5.78 % | |
| R2 | 32.32 | 3.76 % | ||
| R1 | 31.93 | 2.50 % | ||
| Current price: | 31.15 | |||
| Support | S1 | 30.67 | -1.54 % | |
| S2 | 30.28 | -2.79 % | ||
| S3 | 29.65 | -4.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.10 | 3.05 % | |
| R2 | 31.55 | 1.28 % | ||
| R1 | 31.45 | 0.96 % | ||
| Current price | 31.15 | |||
| Support | S1 | 29.00 | -6.90% | |
| S2 | 27.05 | -13.16% | ||
| S3 | 27.00 | -13.32% |
BEWI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 10, 2022 | Nov 10, 2022 | Nov 10, 2022 | kr1.10 | 2.24% |
| 2 | Jun 03, 2022 | Jun 03, 2022 | Jun 03, 2022 | kr1.10 | 1.45% |
| 3 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | kr0.420 | 1.52% |
FAQ
Click here for our free guide on how to buy BEWi ASA Stock.
