Frontline Ltd-Bermuda 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 Frontline Ltd-Bermuda stock price after Thursday trading.
(Updated on May 16, 2024)
The Frontline Ltd-Bermuda stock price gained 1.46% on the last trading day (Thursday, 16th May 2024), rising from kr288.60 to kr292.80. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.52% from a day low at kr289.30 to a day high of kr293.70. The price has risen in 8 of the last 10 days and is up by 10.53% over the past 2 weeks. Volume fell on the last day by -161 thousand shares and in total, 564 thousand shares were bought and sold for approximately kr165.11 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 has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at kr285.09, a level that may pose a second chance to hit a runner. According to fan-theory kr309.29 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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FRO.OL Signals & Forecast
Mostly positive signals in the chart today. 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 kr283.89 and kr262.63. 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 17.03%. 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 Frontline Ltd-Bermuda stock
On the downside, the stock finds support just below today's level from accumulated volume at kr264.10 and kr249.80. 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, Frontline Ltd-Bermuda finds support just below today's level at kr264.10. If this is broken, then the next support from accumulated volume will be at kr249.80 and kr249.65.
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 kr4.40 between high and low, or 1.52%. For the last week, the stock has had daily average volatility of 2.44%.
The Frontline Ltd-Bermuda stock is extremely overbought on RSI14 (88). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: kr280.92 (-4.06%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (FRO.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Frontline Ltd-Bermuda to open at kr291.93, and during the day (based on 14 day Average True Range), to move between kr285.73 and kr299.87, which gives a possible trading interval of +/-kr7.07 (+/-2.41%) up or down from last closing price. If Frontline Ltd-Bermuda takes out the full calculated possible swing range there will be an estimated 4.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr264.10, some kr28.70 (9.80%) from the current price of kr292.80, our system finds the risk reward attractive.
Is Frontline Ltd-Bermuda stock A Buy?
Frontline Ltd-Bermuda holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape 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: 5.250 Strong Buy Candidate Upgraded
Predicted Opening Price for Frontline Ltd-Bermuda of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr291.93 ( 0.296%) | kr292.80 |
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 | 296.33 | 1.21 % | |
| R2 | 294.65 | 0.633 % | ||
| R1 | 293.61 | 0.278 % | ||
| Current price: | 292.80 | |||
| Support | S1 | 290.25 | -0.87 % | |
| S2 | 289.21 | -1.22 % | ||
| S3 | 287.53 | -1.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 292.80 | |||
| Support | S1 | 264.10 | -9.80% | |
| S2 | 249.80 | -14.69% | ||
| S3 | 249.65 | -14.74% |
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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