Interoil Exploration and Production ASA Stock Forecast
High volatility in Interoil Exploration and Production ASA stock price on Thursday which ended trading at kr1.98
(Updated on May 02, 2024)
The Interoil Exploration and Production ASA stock price fell by -0.253% on the last day (Thursday, 2nd May 2024) from kr1.98 to kr1.98. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 10.48% from a day low at kr1.94 to a day high of kr2.14. The price has fallen in 7 of the last 10 days and is down by -24.33% 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 -21 thousand shares and in total, 63 thousand shares were bought and sold for approximately kr123.45 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -39.96% during the next 3 months and, with a 90% probability hold a price between kr0.96 and kr1.59 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IOX.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Interoil Exploration and Production ASA 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 kr2.15 and kr2.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -31.88%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Interoil Exploration and Production ASA stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved kr0.204 between high and low, or 10.48%. For the last week the stock has had daily average volatility of 11.54%.
Interoil Exploration and Production ASA is oversold on RSI14 (16). 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 (IOX.OL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Interoil Exploration and Production ASA to open at kr2.02, and during the day (based on 14 day Average True Range), to move between kr1.76 and kr2.19, which gives a possible trading interval of +/-kr0.216 (+/-10.93%) up or down from last closing price. If Interoil Exploration and Production ASA takes out the full calculated possible swing range there will be an estimated 21.87% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr1.98, some kr0.0050 (0.25%) from the current price of kr1.98, our system finds the risk reward not very attractive.
Is Interoil Exploration and Production ASA stock A Buy?
Interoil Exploration and Production ASA holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.432 Strong Sell Candidate Unchanged
Predicted Opening Price for Interoil Exploration and Production ASA of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| kr2.02 ( 2.29%) | kr1.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOX.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.22 | 12.59 % | |
| R2 | 2.15 | 8.65 % | ||
| R1 | 2.10 | 6.22 % | ||
| Current price: | 1.98 | |||
| Support | S1 | 1.94 | -1.65 % | |
| S2 | 1.89 | -4.08 % | ||
| S3 | 1.82 | -8.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.22 | 12.41 % | |
| R2 | 2.00 | 1.27 % | ||
| R1 | 1.98 | 0.253 % | ||
| Current price | 1.98 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Interoil Exploration and Production ASA Stock.
