Frontline Ltd-Bermuda Stock Forecast
Green day on Tuesday for Frontline Ltd-Bermuda stock after gaining 2.13%
(Updated on Jul 02, 2024)
The Frontline Ltd-Bermuda stock price gained 2.13% on the last trading day (Tuesday, 2nd Jul 2024), rising from kr262.50 to kr268.10. During the last trading day the stock fluctuated 1.85% from a day low at kr264.30 to a day high of kr269.20. The price has risen in 8 of the last 10 days and is up by 4% over the past 2 weeks. Volume fell on the last day by -624 thousand shares and in total, 662 thousand shares were bought and sold for approximately kr177.37 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 weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr261.74 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 7.83% during the next 3 months and, with a 90% probability hold a price between kr282.24 and kr339.64 at the end of this 3-month period.
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FRO.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 4.00%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Frontline Ltd-Bermuda 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 kr273.11 and kr282.96. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Frontline Ltd-Bermuda stock
Frontline Ltd-Bermuda finds support from accumulated volume at kr264.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 kr4.90 between high and low, or 1.85%. For the last week, the stock has had daily average volatility of 2.70%.
Our recommended stop-loss: kr253.73 (-5.36%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (FRO.OL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Frontline Ltd-Bermuda to open at kr267.20, and during the day (based on 14 day Average True Range), to move between kr259.93 and kr276.27, which gives a possible trading interval of +/-kr8.17 (+/-3.05%) up or down from last closing price. If Frontline Ltd-Bermuda takes out the full calculated possible swing range there will be an estimated 6.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr264.10 (1.49%) than the resistance at kr287.70 (7.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Frontline Ltd-Bermuda stock A Buy?
Frontline Ltd-Bermuda holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.653 Hold/Accumulate Unchanged
Predicted Opening Price for Frontline Ltd-Bermuda of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr267.20 ( 0.336%) | kr268.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRO.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 272.10 | 1.49% |
| R2 | 270.23 | 0.794% |
| R1 | 269.07 | 0.362% |
| Price | 268.10 | |
| S1 | 265.33 | -1.03% |
| S2 | 264.17 | -1.47% |
| S3 | 262.30 | -2.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 300.80 | 12.20% |
| R2 | 296.70 | 10.67% |
| R1 | 287.70 | 7.31% |
| Price | 268.10 | |
| S1 | 264.10 | -1.49% |
| S2 | 262.50 | -2.09% |
| S3 | 249.80 | -6.83% |
FRO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 28, 2024 | kr6.65 | 2.38% |
| 2 | Jun 13, 2024 | Jun 13, 2024 | Jun 28, 2024 | kr6.61 | 2.36% |
| 3 | Mar 14, 2024 | Mar 14, 2024 | Mar 27, 2024 | kr3.94 | 1.60% |
| 4 | Dec 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | kr3.18 | 1.56% |
| 5 | Sep 14, 2023 | Sep 14, 2023 | Sep 14, 2023 | kr0.80 | 0.459% |
FAQ
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