Equinor Asa Stock Forecast
Equinor Asa stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Equinor Asa stock price gained 2.77% on the last trading day (Thursday, 25th Apr 2024), rising from $27.10 to $27.85. During the last trading day the stock fluctuated 3.04% from a day low at $27.48 to a day high of $28.31. The price has fallen in 7 of the last 10 days and is down by -1.31% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately $327.51 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $28.31 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.21% during the next 3 months and, with a 90% probability hold a price between $25.56 and $28.94 at the end of this 3-month period.
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EQNR Signals & Forecast
The Equinor Asa 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 $27.28 and $27.12. 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, April 12, 2024, and so far it has fallen -1.31%. 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 Equinor Asa stock
Equinor Asa finds support from accumulated volume at $27.09 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 $0.83 between high and low, or 3.04%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $26.63 (-4.39%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (EQNR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Equinor Asa to open at $27.88, and during the day (based on 14 day Average True Range), to move between $27.32 and $28.38, which gives a possible trading interval of +/-$0.527 (+/-1.89%) up or down from last closing price. If Equinor Asa takes out the full calculated possible swing range there will be an estimated 3.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.22 (1.33%) than the support at $27.09 (2.73%), 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.
Earnings coming up
Equinor Asa will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.780. We will update the financials statements for Equinor Asa, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.10% in the first trading day after earnings release.
Is Equinor Asa 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 Equinor Asa stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.907 Buy Candidate Upgraded
Predicted Opening Price for Equinor Asa of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $27.88 ( 0.102%) | $27.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EQNR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.71 | 3.10 % | |
| R2 | 28.39 | 1.95 % | ||
| R1 | 28.20 | 1.25 % | ||
| Current price: | 27.85 | |||
| Support | S1 | 27.56 | -1.04 % | |
| S2 | 27.36 | -1.75 % | ||
| S3 | 27.04 | -2.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.19 | 4.81 % | |
| R2 | 28.67 | 2.94 % | ||
| R1 | 28.22 | 1.33 % | ||
| Current price | 27.85 | |||
| Support | S1 | 27.09 | -2.73% | |
| S2 | 26.37 | -5.31% | ||
| S3 | 25.61 | -8.04% |
EQNR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | May 15, 2024 | May 28, 2024 | $0.700 | 2.51% |
| 2 | Jan 24, 2024 | Feb 14, 2024 | Feb 27, 2024 | $0.90 | 3.62% |
| 3 | Oct 17, 2023 | Nov 14, 2023 | Nov 28, 2023 | $0.600 | 1.84% |
| 4 | May 03, 2023 | Aug 14, 2023 | Aug 25, 2023 | $0.600 | 2.00% |
| 5 | Apr 25, 2023 | May 11, 2023 | May 25, 2023 | $0.90 | 3.37% |
FAQ
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