Equinor ASA Stock Forecast
Equinor ASA stock upgraded to Strong Buy Candidate.
(Updated on May 10, 2024)
The Equinor ASA stock price gained 2.64% on the last trading day (Friday, 10th May 2024), rising from kr304.70 to kr312.75. During the last trading day the stock fluctuated 1.08% from a day low at kr310.00 to a day high of kr313.35. The price has been going up and down for this period, and there has been a 5.06% 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, 593 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately kr817.70 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.23% during the next 3 months and, with a 90% probability hold a price between kr355.63 and kr389.46 at the end of this 3-month period.
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EQNR.OL 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 kr303.55 and kr297.71. 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 -0.366%. 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 kr299.20 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 kr3.35 between high and low, or 1.08%. For the last week the stock has had daily average volatility of 1.46%.
Our recommended stop-loss: kr301.13 (-3.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (EQNR.OL) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Equinor ASA to open at kr312.03, and during the day (based on 14 day Average True Range), to move between kr306.53 and kr318.97, which gives a possible trading interval of +/-kr6.22 (+/-1.99%) up or down from last closing price. If Equinor ASA takes out the full calculated possible swing range there will be an estimated 3.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr313.90 (0.37%) than the support at kr299.20 (4.33%), 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 Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is $8.05. 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 +/- 4.18% in the first trading day after earnings release.
Is Equinor ASA stock A Buy?
Equinor ASA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.260 Strong Buy Candidate Upgraded
Predicted Opening Price for Equinor ASA of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| kr312.03 ( 0.229%) | kr312.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EQNR.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 315.38 | 0.84 % | |
| R2 | 314.10 | 0.433 % | ||
| R1 | 313.31 | 0.180 % | ||
| Current price: | 312.75 | |||
| Support | S1 | 310.75 | -0.638 % | |
| S2 | 309.96 | -0.89 % | ||
| S3 | 308.68 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 313.90 | 0.368 % | ||
| Current price | 312.75 | |||
| Support | S1 | 299.20 | -4.33% | |
| S2 | 277.55 | -11.25% | ||
| S3 | 264.00 | -15.59% |
EQNR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 28, 2024 | kr7.37 | 2.36% |
| 2 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | kr0 | 0% |
| 3 | Aug 14, 2023 | Aug 14, 2023 | Aug 14, 2023 | kr0.600 | 0.188% |
| 4 | May 11, 2023 | May 11, 2023 | May 11, 2023 | kr0.600 | 0.203% |
| 5 | Dec 14, 2022 | Jan 09, 2023 | Jan 25, 2023 | kr0.700 | 0.238% |
FAQ
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