Equinor ASA 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
Evaluation of Equinor ASA stock downgraded after the last trading session.
(Updated on Jun 04, 2024)
The Equinor ASA stock price fell by -3.87% on the last day (Tuesday, 4th Jun 2024) from kr303.85 to kr292.10. During the last trading day the stock fluctuated 4.22% from a day low at kr289.40 to a day high of kr301.60. The price has fallen in 6 of the last 10 days and is down by -2.24% for this period. Volume has increased on the last day by 968 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately kr1.20 billion.
Given the current short-term trend, the stock is expected to rise 10.71% during the next 3 months and, with a 90% probability hold a price between kr323.37 and kr367.46 at the end of this 3-month period.
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EQNR.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Equinor ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr300.14 and kr302.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -6.94%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Equinor ASA stock
Equinor ASA finds support from accumulated volume at kr277.55 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 kr12.20 between high and low, or 4.22%. For the last week the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EQNR.OL) For The Upcoming Trading Day Of Wednesday 5th
For the upcoming trading day on Wednesday, 5th we expect Equinor ASA to open at kr294.37, and during the day (based on 14 day Average True Range), to move between kr285.16 and kr299.04, which gives a possible trading interval of +/-kr6.94 (+/-2.37%) up or down from last closing price. If Equinor ASA takes out the full calculated possible swing range there will be an estimated 4.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr299.20 (2.43%) than the support at kr277.55 (4.98%), 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?
The Equinor ASA stock holds several negative signals and despite the positive trend, we believe Equinor ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.538 Sell Candidate Downgraded
Predicted Opening Price for Equinor ASA of Wednesday, June 5, 2024
| Fair opening price June 5, 2024 | Current price |
|---|---|
| kr294.37 ( 0.776%) | kr292.10 |
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 | 306.57 | 4.95 % | |
| R2 | 301.91 | 3.36 % | ||
| R1 | 299.03 | 2.37 % | ||
| Current price: | 292.10 | |||
| Support | S1 | 289.71 | -0.82 % | |
| S2 | 286.83 | -1.81 % | ||
| S3 | 282.17 | -3.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 305.00 | 4.42 % | |
| R2 | 302.85 | 3.68 % | ||
| R1 | 299.20 | 2.43 % | ||
| Current price | 292.10 | |||
| Support | S1 | 277.55 | -4.98% | |
| S2 | 273.10 | -6.50% | ||
| S3 | 268.90 | -7.94% |
EQNR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 16, 2024 | Aug 16, 2024 | Aug 28, 2024 | kr7.53 | 2.58% |
| 2 | May 15, 2024 | May 15, 2024 | May 28, 2024 | kr7.37 | 2.44% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | kr6.31 | 2.39% |
| 4 | Nov 14, 2023 | Nov 14, 2023 | Nov 28, 2023 | kr6.57 | 1.88% |
| 5 | Aug 14, 2023 | Aug 14, 2023 | Aug 14, 2023 | kr0.600 | 0.188% |
FAQ
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