Golar LNG 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
Golar LNG stock price ended at $24.57 on Wednesday, after gaining 0.204%.
(Updated on May 01, 2024)
The Golar LNG stock price gained 0.204% on the last trading day (Wednesday, 1st May 2024), rising from $24.52 to $24.57. During the last trading day the stock fluctuated 1.70% from a day low at $24.42 to a day high of $24.84. The price has been going up and down for this period, and there has been a -0.81% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 521 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $28.60 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 25.37% during the next 3 months and, with a 90% probability hold a price between $30.10 and $32.67 at the end of this 3-month period.
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GLNG Signals & Forecast
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. The Golar LNG stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $24.98 and $24.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -3.80%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Golar LNG stock
Golar LNG finds support from accumulated volume at $23.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.415 between high and low, or 1.70%. For the last week the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLNG) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Golar LNG Limited to open at $24.61, and during the day (based on 14 day Average True Range), to move between $24.02 and $25.12, which gives a possible trading interval of +/-$0.550 (+/-2.24%) up or down from last closing price. If Golar LNG Limited takes out the full calculated possible swing range there will be an estimated 4.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.12 (2.24%) than the support at $23.66 (3.70%), 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 Golar LNG Limited stock A Buy?
The Golar LNG stock holds several negative signals and despite the positive trend, we believe Golar LNG will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.142 Sell Candidate Unchanged
Predicted Opening Price for Golar LNG Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $24.61 ( 0.156%) | $24.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLNG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.02 | 1.85 % | |
| R2 | 24.86 | 1.20 % | ||
| R1 | 24.77 | 0.80 % | ||
| Current price: | 24.57 | |||
| Support | S1 | 24.45 | -0.489 % | |
| S2 | 24.35 | -0.89 % | ||
| S3 | 24.19 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.43 | 3.50 % | |
| R2 | 25.37 | 3.26 % | ||
| R1 | 25.12 | 2.24 % | ||
| Current price | 24.57 | |||
| Support | S1 | 23.66 | -3.70% | |
| S2 | 23.24 | -5.41% | ||
| S3 | 20.29 | -17.42% |
GLNG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Mar 11, 2024 | Mar 20, 2024 | $0.250 | 1.02% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Dec 11, 2023 | $0.250 | 1.20% |
| 3 | Aug 10, 2023 | Aug 18, 2023 | Aug 29, 2023 | $0.250 | 1.14% |
| 4 | May 30, 2023 | Jun 09, 2023 | Jun 16, 2023 | $0.250 | 1.16% |
| 5 | May 21, 2019 | Jun 12, 2019 | Jul 03, 2019 | $0.150 | 0.84% |
FAQ
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