Equinor ASA Stock Forecast
Green day on Monday for Equinor ASA stock after gaining 0.330%
(Updated on Jun 03, 2024)
The Equinor ASA stock price gained 0.330% on the last trading day (Monday, 3rd Jun 2024), rising from kr302.85 to kr303.85. During the last trading day the stock fluctuated 2.42% from a day low at kr303.85 to a day high of kr311.20. The price has been going up and down for this period, and there has been a 1.72% gain for the last 2 weeks. Volume fell on the last day by -6 million shares and in total, 3 million shares were bought and sold for approximately kr958.63 million. 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 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 kr298.49 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 11.96% during the next 3 months and, with a 90% probability hold a price between kr334.19 and kr373.11 at the end of this 3-month period.
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EQNR.OL Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -3.20%. 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). 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 kr302.76 and kr302.59. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Equinor ASA stock
Equinor ASA finds support from accumulated volume at kr302.85 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 kr7.35 between high and low, or 2.42%. For the last week the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: kr287.08 (-5.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 59 days ago.)
Trading Expectations (EQNR.OL) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect Equinor ASA to open at kr306.30, and during the day (based on 14 day Average True Range), to move between kr297.48 and kr310.22, which gives a possible trading interval of +/-kr6.37 (+/-2.10%) up or down from last closing price. If Equinor ASA takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr304.40 (0.18%) than the support at kr302.85 (0.33%), 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.
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.
Current score: 3.980 Buy Candidate Unchanged
Predicted Opening Price for Equinor ASA of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| kr306.30 ( 0.81%) | kr303.85 |
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 | 313.65 | 3.23 % | |
| R2 | 310.84 | 2.30 % | ||
| R1 | 309.11 | 1.73 % | ||
| Current price: | 303.85 | |||
| Support | S1 | 303.49 | -0.118 % | |
| S2 | 301.76 | -0.689 % | ||
| S3 | 298.95 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 305.80 | 0.642 % | |
| R2 | 305.00 | 0.378 % | ||
| R1 | 304.40 | 0.181 % | ||
| Current price | 303.85 | |||
| Support | S1 | 302.85 | -0.329% | |
| S2 | 299.20 | -1.53% | ||
| S3 | 277.55 | -8.66% |
EQNR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 16, 2024 | Aug 16, 2024 | Aug 28, 2024 | kr7.53 | 2.48% |
| 2 | May 15, 2024 | May 15, 2024 | May 28, 2024 | kr7.37 | 2.44% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | kr0 | 0% |
| 4 | Aug 14, 2023 | Aug 14, 2023 | Aug 14, 2023 | kr0.600 | 0.188% |
| 5 | May 11, 2023 | May 11, 2023 | May 11, 2023 | kr0.600 | 0.203% |
FAQ
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