Frontline Ltd-Bermuda Stock Forecast
Stronger technical forecast for Frontline Ltd-Bermuda stock price after Wednesday trading.
(Updated on May 08, 2024)
The Frontline Ltd-Bermuda stock price gained 2.65% on the last trading day (Wednesday, 8th May 2024), rising from kr267.90 to kr275.00. During the last trading day the stock fluctuated 2.15% from a day low at kr269.20 to a day high of kr275.00. The price has risen in 8 of the last 10 days and is up by 9.04% 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, 626 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately kr289.87 million.
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 kr279.83 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.67% during the next 3 months and, with a 90% probability hold a price between kr276.11 and kr306.89 at the end of this 3-month period.
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FRO.OL Signals & Forecast
The Frontline Ltd-Bermuda 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 kr267.16 and kr256.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 9.91%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 kr5.80 between high and low, or 2.15%. For the last week, the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: kr263.68 (-4.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (FRO.OL) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Frontline Ltd-Bermuda to open at kr273.07, and during the day (based on 14 day Average True Range), to move between kr268.11 and kr281.89, which gives a possible trading interval of +/-kr6.89 (+/-2.51%) up or down from last closing price. If Frontline Ltd-Bermuda takes out the full calculated possible swing range there will be an estimated 5.01% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr264.10, some kr10.90 (3.96%) from the current price of kr275.00, our system finds the risk reward attractive.
Is Frontline Ltd-Bermuda stock A Buy?
Frontline Ltd-Bermuda holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during 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: 6.166 Strong Buy Candidate Upgraded
Predicted Opening Price for Frontline Ltd-Bermuda of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| kr273.07 ( 0.703%) | kr275.00 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 278.87 | 1.41 % | |
| R2 | 276.65 | 0.600 % | ||
| R1 | 275.28 | 0.103 % | ||
| Current price: | 275.00 | |||
| Support | S1 | 270.85 | -1.51 % | |
| S2 | 269.48 | -2.01 % | ||
| S3 | 267.27 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 275.00 | |||
| Support | S1 | 264.10 | -3.96% | |
| S2 | 249.65 | -9.22% | ||
| S3 | 246.70 | -10.29% |
FRO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Mar 14, 2024 | kr0 | 0% |
| 2 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | kr0 | 0% |
| 3 | Sep 14, 2023 | Sep 14, 2023 | Sep 14, 2023 | kr0.80 | 0.459% |
| 4 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | kr0.700 | 0.433% |
| 5 | Mar 15, 2023 | Mar 15, 2023 | Mar 15, 2023 | kr1.07 | 0.618% |
FAQ
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