BW Energy Ltd Stock Forecast
BW Energy Ltd stock price up 0.81% on Friday
(Updated on Jun 28, 2024)
The BW Energy Ltd stock price gained 0.81% on the last trading day (Friday, 28th Jun 2024), rising from kr30.95 to kr31.20. During the last trading day the stock fluctuated 1.79% from a day low at kr30.70 to a day high of kr31.25. The price has been going up and down for this period, and there has been a 0.97% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 32 thousand more shares were traded than the day before. In total, 135 thousand shares were bought and sold for approximately kr4.21 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr30.61 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 15.04% during the next 3 months and, with a 90% probability hold a price between kr35.21 and kr40.41 at the end of this 3-month period.
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BWE.OL Signals & Forecast
The BW Energy Ltd 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 kr30.84 and kr30.83. A breakdown below any of these levels will issue sell signals. 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 Friday, May 31, 2024, and so far it has fallen -7.14%. 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).
Support, Risk & Stop-loss for BW Energy Ltd stock
BW Energy Ltd finds support from accumulated volume at kr30.50 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 kr0.550 between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: kr29.31 (-6.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 66 days ago.)
Trading Expectations (BWE.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect BW Energy Ltd to open at kr31.05, and during the day (based on 14 day Average True Range), to move between kr30.45 and kr31.95, which gives a possible trading interval of +/-kr0.755 (+/-2.42%) up or down from last closing price. If BW Energy Ltd takes out the full calculated possible swing range there will be an estimated 4.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr31.90 (2.24%) than the support at kr30.50 (2.24%), 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 BW Energy Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BW Energy Ltd stock to perform well in the short-term.
Current score: 4.804 Buy Candidate Unchanged
Predicted Opening Price for BW Energy Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr31.05 ( 0.481%) | kr31.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BWE.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.60 | 1.28% |
| R2 | 31.39 | 0.609% |
| R1 | 31.26 | 0.193% |
| Price | 31.20 | |
| S1 | 30.84 | -1.15% |
| S2 | 30.71 | -1.57% |
| S3 | 30.50 | -2.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.60 | 7.69% |
| R2 | 33.10 | 6.09% |
| R1 | 31.90 | 2.24% |
| Price | 31.20 | |
| S1 | 30.50 | -2.24% |
| S2 | 29.10 | -6.73% |
| S3 | 28.10 | -9.94% |
FAQ
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