Ørsted A/S Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Ørsted A/S stock price ended at $58.98 on Monday, after gaining 0.81%.
(Updated on May 06, 2024)
The Ørsted A/S stock price gained 0.81% on the last trading day (Monday, 6th May 2024), rising from $58.50 to $58.98. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.41% from a day low at $58.36 to a day high of $59.18. The price has risen in 7 of the last 10 days and is up by 10.9% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 406 shares were bought and sold for approximately $23.94 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $57.85 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $65.82 sometime during the next 3 months.
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DOGEF Signals & Forecast
The Ørsted A/S 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 $56.17 and $54.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 12.18%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, April 02, 2024 in the short-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
The stock had a Golden Star Signal on Tuesday, April 02, 2024 in the short-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 Ørsted A/S stock
On the downside, the stock finds support just below today's level from accumulated volume at $55.43 and $54.32. 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, Ørsted A/S finds support just below today's level at $55.43. If this is broken, then the next support from accumulated volume will be at $54.32 and $52.84.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.82 between high and low, or 1.41%. For the last week the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: $57.05 (-3.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (DOGEF) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Ørsted A/S to open at $58.84, and during the day (based on 14 day Average True Range), to move between $56.67 and $61.28, which gives a possible trading interval of +/-$2.30 (+/-3.91%) up or down from last closing price. If Ørsted A/S takes out the full calculated possible swing range there will be an estimated 7.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $55.43, some $3.55 (6.01%) from the current price of $58.98, our system finds the risk reward attractive.
Is Ørsted A/S stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Ørsted A/S stock to perform well in the short-term period.
Current score: 3.503 Buy Candidate Unchanged
Predicted Opening Price for Ørsted A/S of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $58.84 ( 0.232%) | $58.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOGEF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.66 | 1.16 % | |
| R2 | 59.35 | 0.628 % | ||
| R1 | 59.15 | 0.299 % | ||
| Current price: | 58.98 | |||
| Support | S1 | 58.53 | -0.763 % | |
| S2 | 58.33 | -1.09 % | ||
| S3 | 58.02 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 58.98 | |||
| Support | S1 | 55.43 | -6.01% | |
| S2 | 54.32 | -7.89% | ||
| S3 | 52.84 | -10.40% |
DOGEF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2023 | Mar 08, 2023 | Mar 13, 2018 | $1.91 | 2.97% |
| 2 | Apr 11, 2022 | Apr 11, 2022 | Apr 11, 2022 | $1.83 | 1.52% |
| 3 | Mar 02, 2021 | Mar 02, 2021 | Mar 02, 2021 | $1.86 | 1.18% |
| 4 | Mar 03, 2020 | Mar 03, 2020 | Mar 03, 2020 | $1.56 | 1.47% |
| 5 | Mar 09, 2018 | Mar 09, 2018 | Mar 09, 2018 | $1.49 | 2.33% |
FAQ
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