Euronav NV 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
Stronger technical forecast for Euronav NV stock price after Friday trading.
(Updated on May 10, 2024)
The Euronav NV stock price gained 2.78% on the last trading day (Friday, 10th May 2024), rising from 17.65€ to 18.14€. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.14% from a day low at 17.78€ to a day high of 18.16€. The price has risen in 8 of the last 10 days and is up by 16.88% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 130 more shares were traded than the day before. In total, 108 thousand shares were bought and sold for approximately 1.96€ million.
Given the current short-term trend, the stock is expected to fall -2.77% during the next 3 months and, with a 90% probability hold a price between 12.40€ and 17.64€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EURN.BB Signals & Forecast
Mostly positive signals in the chart today. The Euronav NV 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 16.60€ and 15.54€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 39.11%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, January 15, 2024 in the long-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 12 Months
The stock had a Golden Star Signal on Monday, January 15, 2024 in the long-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 Euronav NV stock
On the downside, the stock finds support just below today's level from accumulated volume at 15.60€ and 15.10€. 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, Euronav NV finds support just below today's level at 15.60€. If this is broken, then the next support from accumulated volume will be at 15.10€ and 13.96€.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.380€ between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 2.63%.
The Euronav NV stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Euronav NV has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: 17.56€ (-3.22%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (EURN.BB) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Euronav NV to open at 18.03€, and during the day (based on 14 day Average True Range), to move between 17.77€ and 18.51€, which gives a possible trading interval of +/-0.366€ (+/-2.01%) up or down from last closing price. If Euronav NV takes out the full calculated possible swing range there will be an estimated 4.03% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 15.60€, some 2.54€ (14.00%) from the current price of 18.14€, our system finds the risk reward attractive.
Is Euronav NV stock A Buy?
Euronav NV holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Euronav NV stock will perform very well in 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: 5.622 Strong Buy Candidate Upgraded
Predicted Opening Price for Euronav NV of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| 18.03€ ( 0.625%) | 18.14€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EURN.BB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.41 | 1.47 % | |
| R2 | 18.26 | 0.670 % | ||
| R1 | 18.17 | 0.175 % | ||
| Current price: | 18.14 | |||
| Support | S1 | 17.88 | -1.42 % | |
| S2 | 17.79 | -1.92 % | ||
| S3 | 17.65 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 18.14 | |||
| Support | S1 | 15.60 | -14.00% | |
| S2 | 15.10 | -16.76% | ||
| S3 | 13.96 | -23.04% |
EURN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 12, 2023 | Dec 12, 2023 | Dec 12, 2023 | 0€ | 0% |
| 2 | Sep 06, 2023 | Sep 06, 2023 | Sep 06, 2023 | 0.80€ | 0% |
| 3 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | 0.700€ | 0% |
| 4 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | 1.10€ | 0% |
| 5 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | 0.0300€ | 0% |
FAQ
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