FLEX LNG Ltd Stock Forecast
FLEX LNG Ltd stock price ended at kr293.40 on Tuesday, after gaining 0.548%.
(Updated on May 07, 2024)
The FLEX LNG Ltd stock price gained 0.548% on the last trading day (Tuesday, 7th May 2024), rising from kr291.80 to kr293.40. During the last trading day the stock fluctuated 1.59% from a day low at kr289.00 to a day high of kr293.60. The price has risen in 7 of the last 10 days and is up by 3.97% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 9 thousand shares were bought and sold for approximately kr2.57 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 upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at kr299.30 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.21% during the next 3 months and, with a 90% probability hold a price between kr285.32 and kr317.88 at the end of this 3-month period.
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FLNG.OL Signals & Forecast
Mostly positive signals in the chart today. The FLEX LNG Ltd 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 kr290.51 and kr278.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 27, 2024, and so far it has risen 15.06%. 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 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 FLEX LNG Ltd stock
FLEX LNG Ltd finds support from accumulated volume at kr281.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr4.60 (1.59%) between high and low. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: kr284.48 (-3.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (FLNG.OL) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect FLEX LNG Ltd to open at kr292.00, and during the day (based on 14 day Average True Range), to move between kr286.70 and kr300.10, which gives a possible trading interval of +/-kr6.70 (+/-2.28%) up or down from last closing price. If FLEX LNG Ltd takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr281.80, some kr11.60 (3.95%) from the current price of kr293.40, our system finds the risk reward attractive.
Is FLEX LNG Ltd 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 FLEX LNG Ltd stock to perform well in the short-term.
Current score: 3.714 Buy Candidate Unchanged
Predicted Opening Price for FLEX LNG Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| kr292.00 ( 0.477%) | kr293.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLNG.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 296.60 | 1.09 % | |
| R2 | 294.84 | 0.492 % | ||
| R1 | 293.76 | 0.122 % | ||
| Current price: | 293.40 | |||
| Support | S1 | 290.24 | -1.08 % | |
| S2 | 289.16 | -1.45 % | ||
| S3 | 287.40 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 293.40 | |||
| Support | S1 | 281.80 | -3.95% | |
| S2 | 266.00 | -9.34% | ||
| S3 | 255.00 | -13.09% |
FLNG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Mar 05, 2024 | kr7.94 | 2.99% |
| 2 | Nov 27, 2023 | Nov 27, 2023 | Nov 27, 2023 | kr0 | 0% |
| 3 | Aug 30, 2023 | Aug 30, 2023 | Aug 30, 2023 | kr0.750 | 0.231% |
| 4 | May 31, 2023 | May 31, 2023 | May 31, 2023 | kr0.750 | 0.225% |
| 5 | May 30, 2023 | May 30, 2023 | May 30, 2023 | kr0.750 | 0.223% |
FAQ
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