Golden Energy Offshore Services AS 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
Evaluation of Golden Energy Offshore Services AS stock downgraded after the last trading session.
(Updated on May 06, 2024)
The Golden Energy Offshore Services AS stock price fell by -2.42% on the last day (Monday, 6th May 2024) from kr1.86 to kr1.82. During the last trading day the stock fluctuated 3.59% from a day low at kr1.81 to a day high of kr1.88. The price has risen in 6 of the last 10 days and is up by 8.04% over the past 2 weeks. Volume has increased on the last day by 501 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 813 thousand shares were bought and sold for approximately kr1.48 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 28.28% during the next 3 months and, with a 90% probability hold a price between kr2.21 and kr2.43 at the end of this 3-month period.
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GEOS.OL Signals & Forecast
The Golden Energy Offshore Services AS stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr1.85. On a fall, the stock will find some support from the long-term average at approximately kr1.68. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, April 30, 2024, and so far it has fallen -2.94%. Further fall is indicated until a new bottom pivot has been found. Golden Energy Offshore Services AS gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Golden Energy Offshore Services AS stock
On the downside, the stock finds support just below today's level from accumulated volume at kr1.56 and kr1.54. 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, Golden Energy Offshore Services AS finds support just below today's level at kr1.56. If this is broken, then the next support from accumulated volume will be at kr1.54 and kr1.42.
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 kr0.0650 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: kr1.75 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (GEOS.OL) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Golden Energy Offshore Services AS to open at kr1.83, and during the day (based on 14 day Average True Range), to move between kr1.75 and kr1.88, which gives a possible trading interval of +/-kr0.0666 (+/-3.67%) up or down from last closing price. If Golden Energy Offshore Services AS takes out the full calculated possible swing range there will be an estimated 7.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr1.83 (0.55%) than the support at kr1.56 (14.16%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Golden Energy Offshore Services AS stock A Buy?
Golden Energy Offshore Services AS 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.146 Hold/Accumulate Downgraded
Predicted Opening Price for Golden Energy Offshore Services AS of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| kr1.83 ( 1.01%) | kr1.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEOS.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.90 | 4.59 % | |
| R2 | 1.87 | 3.22 % | ||
| R1 | 1.86 | 2.38 % | ||
| Current price: | 1.82 | |||
| Support | S1 | 1.81 | -0.358 % | |
| S2 | 1.79 | -1.20 % | ||
| S3 | 1.77 | -2.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.87 | 2.75 % | |
| R2 | 1.86 | 2.48 % | ||
| R1 | 1.83 | 0.551 % | ||
| Current price | 1.82 | |||
| Support | S1 | 1.56 | -14.16% | |
| S2 | 1.54 | -14.93% | ||
| S3 | 1.42 | -21.54% |
FAQ
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