Borregaard ASA Stock Forecast
Borregaard ASA stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Borregaard ASA stock price fell by -0.84% on the last day (Thursday, 2nd May 2024) from kr190.40 to kr188.80. During the last trading day the stock fluctuated 2.68% from a day low at kr186.60 to a day high of kr191.60. The price has fallen in 7 of the last 10 days and is down by -1.36% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -36 thousand shares and in total, 56 thousand shares were bought and sold for approximately kr10.58 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr188.06 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.16% during the next 3 months and, with a 90% probability hold a price between kr205.29 and kr224.06 at the end of this 3-month period.
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BRG.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Borregaard 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 kr190.11 and kr189.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -5.60%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Borregaard ASA stock
Borregaard ASA finds support from accumulated volume at kr187.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr5.00 between high and low, or 2.68%. For the last week the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRG.OL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Borregaard ASA to open at kr189.00, and during the day (based on 14 day Average True Range), to move between kr184.75 and kr192.85, which gives a possible trading interval of +/-kr4.05 (+/-2.15%) up or down from last closing price. If Borregaard ASA takes out the full calculated possible swing range there will be an estimated 4.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr187.00 (0.95%) than the resistance at kr191.00 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Borregaard ASA stock A Buy?
The Borregaard ASA stock holds several negative signals and despite the positive trend, we believe Borregaard 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: -3.079 Sell Candidate Downgraded
Predicted Opening Price for Borregaard ASA of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| kr189.00 ( 0.106%) | kr188.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRG.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 194.00 | 2.75 % | |
| R2 | 192.09 | 1.74 % | ||
| R1 | 190.91 | 1.12 % | ||
| Current price: | 188.80 | |||
| Support | S1 | 187.09 | -0.91 % | |
| S2 | 185.91 | -1.53 % | ||
| S3 | 184.00 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 195.60 | 3.60 % | |
| R2 | 191.80 | 1.59 % | ||
| R1 | 191.00 | 1.17 % | ||
| Current price | 188.80 | |||
| Support | S1 | 187.00 | -0.95% | |
| S2 | 183.80 | -2.65% | ||
| S3 | 183.60 | -2.75% |
BRG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | Apr 22, 2024 | kr3.75 | 1.96% |
| 2 | Apr 19, 2023 | Apr 19, 2023 | Apr 19, 2023 | kr3.25 | 1.87% |
| 3 | Apr 08, 2022 | Apr 08, 2022 | Apr 08, 2022 | kr2.25 | 1.25% |
| 4 | Apr 15, 2021 | Apr 15, 2021 | Apr 15, 2021 | kr2.50 | 1.37% |
| 5 | Feb 05, 2020 | Jun 16, 2020 | Jun 24, 2020 | kr2.30 | 2.21% |
FAQ
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