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
Euronav NV stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Euronav NV stock price fell by -0.358% on the last day (Tuesday, 30th Apr 2024) from $16.75 to $16.69. During the last trading day the stock fluctuated 1.63% from a day low at $16.58 to a day high of $16.85. The price has fallen in 6 of the last 10 days but is still up by 1.4% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -64 thousand shares and in total, 117 thousand shares were bought and sold for approximately $1.96 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $16.48, a level that may pose a second chance to hit a runner. According to fan-theory $19.09 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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EURN Signals & Forecast
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 $16.57 and $16.49. A breakdown below any of these levels will issue sell signals. 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 05, 2024, and so far it has fallen -1.71%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Euronav NV stock
Euronav NV finds support from accumulated volume at $16.42 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 $0.270 between high and low, or 1.63%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: $16.03 (-3.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (EURN) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Euronav NV to open at $16.71, and during the day (based on 14 day Average True Range), to move between $16.38 and $17.00, which gives a possible trading interval of +/-$0.314 (+/-1.88%) up or down from last closing price. If Euronav NV takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.42 (1.62%) than the resistance at $17.73 (6.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Euronav NV stock A Buy?
Euronav NV holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.438 Hold/Accumulate Upgraded
Predicted Opening Price for Euronav NV of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $16.71 ( 0.0999%) | $16.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EURN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.98 | 1.72 % | |
| R2 | 16.87 | 1.10 % | ||
| R1 | 16.81 | 0.718 % | ||
| Current price: | 16.69 | |||
| Support | S1 | 16.60 | -0.518 % | |
| S2 | 16.54 | -0.90 % | ||
| S3 | 16.44 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.78 | 6.53 % | |
| R2 | 17.75 | 6.35 % | ||
| R1 | 17.73 | 6.23 % | ||
| Current price | 16.69 | |||
| Support | S1 | 16.42 | -1.62% | |
| S2 | 16.03 | -3.95% | ||
| S3 | 14.69 | -11.98% |
EURN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 29, 2023 | Dec 12, 2023 | Dec 20, 2023 | $0.399 | 2.27% |
| 2 | Aug 03, 2023 | Sep 06, 2023 | Sep 19, 2023 | $0.80 | 4.94% |
| 3 | May 30, 2023 | Jun 08, 2023 | Sep 19, 2023 | $0.700 | 4.32% |
| 4 | May 25, 2023 | Jun 01, 2023 | Jun 20, 2023 | $1.10 | 6.85% |
| 5 | Feb 16, 2023 | Feb 21, 2023 | Mar 02, 2023 | $0.0300 | 0.162% |
FAQ
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