Borders & Southern Petroleum Plc Stock Forecast
On Tuesday, Borders & Southern Petroleum Plc stock price gained an impressive 13.04%
(Updated on Jun 25, 2024)
The Borders & Southern Petroleum Plc stock price gained 13.04% on the last trading day (Tuesday, 25th Jun 2024), rising from £2.30 to £2.60. During the last trading day the stock fluctuated 6.90% from a day low at £2.49 to a day high of £2.66. The price has fallen in 6 of the last 10 days and is down by -1.53% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 468 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately £3.47 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £2.56, a level that may pose a second chance to hit a runner. According to fan-theory £3.16 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BOR.L Signals & Forecast
The Borders & Southern Petroleum Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £2.47 and £2.47. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -1.53%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Monday, January 08, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, January 08, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Borders & Southern Petroleum Plc stock
Borders & Southern Petroleum Plc finds support from accumulated volume at £2.58 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 £0.172 between high and low, or 6.90%. For the last week, the stock has had daily average volatility of 11.14%.
Our recommended stop-loss: £2.49 (-4.07%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (BOR.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Borders & Southern Petroleum Plc to open at £2.59, and during the day (based on 14 day Average True Range), to move between £2.29 and £2.91, which gives a possible trading interval of +/-£0.306 (+/-11.75%) up or down from last closing price. If Borders & Southern Petroleum Plc takes out the full calculated possible swing range there will be an estimated 23.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £2.62 (0.77%) than the support at £2.58 (0.77%), 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 Borders & Southern Petroleum Plc stock A Buy?
Borders & Southern Petroleum Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Strong Sell to a Hold/Accumulate candidate.
Current score: -0.763 Hold/Accumulate Upgraded
Predicted Opening Price for Borders & Southern Petroleum Plc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £2.59 ( 0.547%) | £2.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOR.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.76 | 6.07% |
| R2 | 2.69 | 3.54% |
| R1 | 2.65 | 1.98% |
| Price | 2.60 | |
| S1 | 2.52 | -3.08% |
| S2 | 2.48 | -4.64% |
| S3 | 2.41 | -7.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.83 | 8.85% |
| R2 | 2.79 | 7.31% |
| R1 | 2.62 | 0.769% |
| Price | 2.60 | |
| S1 | 2.58 | -0.769% |
| S2 | 2.52 | -3.08% |
| S3 | 2.38 | -8.46% |
FAQ
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