Kongsberg Gruppen ASA Stock Forecast
Evaluation of Kongsberg Gruppen ASA stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The Kongsberg Gruppen ASA stock price fell by -2.22% on the last day (Tuesday, 2nd Jul 2024) from kr901.50 to kr881.50. During the last trading day the stock fluctuated 4.04% from a day low at kr879.00 to a day high of kr914.50. The price has risen in 5 of the last 10 days and is up by 1.61% over the past 2 weeks. 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 -100 thousand shares and in total, 253 thousand shares were bought and sold for approximately kr223.34 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr868.24 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.14% during the next 3 months and, with a 90% probability hold a price between kr1,069.12 and kr1,210.37 at the end of this 3-month period.
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KOG.OL Signals & Forecast
There are mixed signals in the stock today. The Kongsberg Gruppen ASA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr882.24. On a fall, the stock will find some support from the short-term average at kr875.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -5.42%. 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 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 Kongsberg Gruppen ASA stock
Kongsberg Gruppen ASA finds support from accumulated volume at kr870.00 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 kr35.50 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KOG.OL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Kongsberg Gruppen ASA to open at kr891.67, and during the day (based on 14 day Average True Range), to move between kr855.74 and kr907.26, which gives a possible trading interval of +/-kr25.76 (+/-2.92%) up or down from last closing price. If Kongsberg Gruppen ASA takes out the full calculated possible swing range there will be an estimated 5.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr870.00 (1.30%) than the resistance at kr901.50 (2.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Kongsberg Gruppen ASA will release earnings BMO on Wednesday, July 10, 2024.The consensus among the analysts for the expected earnings (EPS) is $5.57. We will update the financials statements for Kongsberg Gruppen ASA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.56% in the first trading day after earnings release.
Is Kongsberg Gruppen ASA stock A Buy?
Kongsberg Gruppen ASA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.558 Sell Candidate Downgraded
Predicted Opening Price for Kongsberg Gruppen ASA of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr891.67 ( 1.15%) | kr881.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOG.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 927.17 | 5.18% |
| R2 | 913.61 | 3.64% |
| R1 | 905.23 | 2.69% |
| Price | 881.50 | |
| S1 | 878.11 | -0.385% |
| S2 | 869.73 | -1.34% |
| S3 | 856.17 | -2.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 920.00 | 4.37% |
| R2 | 905.00 | 2.67% |
| R1 | 901.50 | 2.27% |
| Price | 881.50 | |
| S1 | 870.00 | -1.30% |
| S2 | 750.50 | -14.86% |
| S3 | 723.00 | -17.98% |
KOG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 09, 2024 | Oct 09, 2024 | Oct 23, 2024 | kr7.00 | 0.793% |
| 2 | May 08, 2024 | May 08, 2024 | May 29, 2024 | kr7.00 | 0.791% |
| 3 | May 12, 2023 | May 12, 2023 | May 12, 2023 | kr12.00 | 2.55% |
| 4 | May 12, 2022 | May 12, 2022 | May 12, 2022 | kr12.00 | 3.75% |
| 5 | May 07, 2021 | May 07, 2021 | May 07, 2021 | kr5.00 | 2.38% |
FAQ
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