Dof Group Asa Stock Forecast
Stronger technical forecast for Dof Group Asa stock price after Thursday trading.
(Updated on Jun 27, 2024)
The Dof Group Asa stock price gained 4.10% on the last trading day (Thursday, 27th Jun 2024), rising from kr91.50 to kr95.25. During the last trading day the stock fluctuated 4.61% from a day low at kr91.05 to a day high of kr95.25. The price has fallen in 5 of the last 10 days but is still up by 6.07% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 404 thousand more shares were traded than the day before. In total, 701 thousand shares were bought and sold for approximately kr66.73 million.
The stockhas broken the 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 kr94.70, a level that may pose a second chance to hit a runner. According to fan-theory kr103.33 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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DOFG.OL Signals & Forecast
Mostly positive signals in the chart today. The Dof Group Asa stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr90.25 and kr90.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 9.74%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Dof Group Asa stock
On the downside, the stock finds support just below today's level from accumulated volume at kr88.80 and kr87.25. 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, Dof Group Asa finds support just below today's level at kr88.80. If this is broken, then the next support from accumulated volume will be at kr87.25 and kr86.80.
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 kr4.20 between high and low, or 4.61%. For the last week, the stock has had daily average volatility of 3.99%.
Our recommended stop-loss: kr91.58 (-3.85%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (DOFG.OL) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Dof Group Asa to open at kr93.85, and during the day (based on 14 day Average True Range), to move between kr92.01 and kr98.49, which gives a possible trading interval of +/-kr3.24 (+/-3.40%) up or down from last closing price. If Dof Group Asa takes out the full calculated possible swing range there will be an estimated 6.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr96.55 (1.36%) than the support at kr88.80 (6.77%), 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 Dof Group Asa stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.625 Buy Candidate Upgraded
Predicted Opening Price for Dof Group Asa of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| kr93.85 ( 1.47%) | kr95.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOFG.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 98.05 | 2.94% |
| R2 | 96.45 | 1.26% |
| R1 | 95.45 | 0.215% |
| Price | 95.25 | |
| S1 | 92.25 | -3.15% |
| S2 | 91.25 | -4.19% |
| S3 | 89.65 | -5.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 96.55 | 1.36% |
| Price | 95.25 | |
| S1 | 88.80 | -6.77% |
| S2 | 87.25 | -8.40% |
| S3 | 86.80 | -8.87% |
FAQ
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