Golden Ocean Group Ltd Stock Forecast
Red day on Monday for Golden Ocean Group Ltd stock after losing 0.544%
(Updated on Jun 17, 2024)
The Golden Ocean Group Ltd stock price fell by -0.544% on the last day (Monday, 17th Jun 2024) from kr137.90 to kr137.15. During the last trading day the stock fluctuated 2.15% from a day low at kr134.85 to a day high of kr137.75. The price has fallen in 6 of the last 10 days and is down by -6.92% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -145 thousand shares and in total, 477 thousand shares were bought and sold for approximately kr65.42 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at kr137.34. A reaction back to this level may hold a second chance to get out before further falls.
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GOGL.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.513%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Golden Ocean Group Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr140.04 and kr151.58. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Golden Ocean Group Ltd stock
Golden Ocean Group Ltd finds support from accumulated volume at kr137.05 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 kr2.90 between high and low, or 2.15%. For the last week, the stock has had daily average volatility of 3.57%.
Golden Ocean Group Ltd is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GOGL.OL) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Golden Ocean Group Ltd to open at kr136.58, and during the day (based on 14 day Average True Range), to move between kr132.49 and kr141.81, which gives a possible trading interval of +/-kr4.66 (+/-3.40%) up or down from last closing price. If Golden Ocean Group Ltd takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr137.05 (0.07%) than the resistance at kr150.50 (9.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Golden Ocean Group Ltd stock A Buy?
The Golden Ocean Group Ltd stock holds several negative signals and despite the positive trend, we believe Golden Ocean Group Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.979 Sell Candidate Unchanged
Predicted Opening Price for Golden Ocean Group Ltd of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| kr136.58 ( 0.413%) | kr137.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOGL.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 139.48 | 1.70% |
| R2 | 138.38 | 0.89% |
| R1 | 137.69 | 0.395% |
| Price | 137.15 | |
| S1 | 135.48 | -1.22% |
| S2 | 134.79 | -1.72% |
| S3 | 133.68 | -2.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 158.00 | 15.20% |
| R2 | 151.70 | 10.61% |
| R1 | 150.50 | 9.73% |
| Price | 137.15 | |
| S1 | 137.05 | -0.0729% |
| S2 | 136.45 | -0.510% |
| S3 | 134.75 | -1.75% |
GOGL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 17, 2024 | kr3.22 | 2.35% |
| 2 | Jun 06, 2024 | Jun 06, 2024 | Jun 17, 2024 | kr3.15 | 2.30% |
| 3 | Mar 12, 2024 | Mar 12, 2024 | Mar 25, 2024 | kr3.16 | 2.32% |
| 4 | Dec 05, 2023 | Dec 05, 2023 | Dec 13, 2023 | kr1.09 | 1.16% |
| 5 | Sep 08, 2023 | Sep 08, 2023 | Sep 08, 2023 | kr0.100 | 0.128% |
FAQ
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