Golden Ocean Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of GOGL
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Golden Ocean stock price down 0.81% on Friday
(Updated on Oct 11, 2024)
Hold candidate since Oct 10, 2024
Loss -0.81%
The Golden Ocean stock price fell by -0.81% on the last day (Friday, 11th Oct 2024) from $12.39 to $12.29. During the last trading day the stock fluctuated 1.68% from a day low at $12.19 to a day high of $12.39. The price has fallen in 7 of the last 10 days and is down by -6.68% for this period. Volume has increased on the last day by 334 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, 896 thousand shares were bought and sold for approximately $11.02 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Golden Ocean stock with a 90% probability to be traded between $10.90 and $13.22 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.
GOGL Signals & Forecast
The Golden Ocean 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 $12.62. On a fall, the stock will find some support from the long-term average at approximately $12.29. 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. 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 Monday, September 30, 2024, and so far it has fallen -8.15%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Golden Ocean stock
Golden Ocean finds support from accumulated volume at $12.09 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 $0.205 between high and low, or 1.68%. For the last week, the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: $11.70 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (GOGL) For The Upcoming Trading Day Of Monday 14th
For the upcoming trading day on Monday, 14th we expect Golden Ocean Group Limited to open at $12.29, and during the day (based on 14 day Average True Range), to move between $11.99 and $12.59, which gives a possible trading interval of +/-$0.299 (+/-2.43%) up or down from last closing price. If Golden Ocean Group Limited takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.36 (0.57%) than the support at $12.09 (1.63%), 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 Ocean Group Limited stock A Buy?
Golden Ocean 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:
0.324
Hold/Accumulate
Unchanged
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Predicted Fair Opening Price
Predicted fair opening price on October 14, 2024 - $12.29 ( 0.0136%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for GOGL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.49 | 1.65% |
| R2 | 12.42 | 1.02% |
| R1 | 12.37 | 0.624% |
| Price | 12.29 | |
| S1 | 12.21 | -0.651% |
| S2 | 12.16 | -1.04% |
| S3 | 12.08 | -1.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.98 | 5.61% |
| R2 | 12.54 | 2.03% |
| R1 | 12.36 | 0.570% |
| Price | 12.29 | |
| S1 | 12.09 | -1.63% |
| S2 | 11.68 | -4.96% |
| S3 | 11.15 | -9.28% |
GOGL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 28, 2024 | Sep 11, 2024 | Sep 20, 2024 | $0.300 | 2.46% |
| 2 | May 22, 2024 | Jun 07, 2024 | Jun 17, 2024 | $0.300 | 2.33% |
| 3 | Mar 12, 2024 | Mar 12, 2024 | Mar 25, 2024 | $0.300 | 2.37% |
| 4 | Dec 05, 2023 | Dec 05, 2023 | Dec 13, 2023 | $0.100 | 1.15% |
| 5 | Aug 29, 2023 | Sep 08, 2023 | Sep 19, 2023 | $0.100 | 1.31% |
FAQ
Click here for our free guide on how to buy Golden Ocean Stock.
