Nordic Semiconductor ASA Stock Forecast
Nordic Semiconductor ASA stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Nordic Semiconductor ASA stock price fell by -0.95% on the last day (Thursday, 25th Apr 2024) from kr121.00 to kr119.85. During the last trading day the stock fluctuated 5.87% from a day low at kr116.70 to a day high of kr123.55. The price has fallen in 6 of the last 10 days but is still up by 33.55% 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 -4 million shares and in total, 2 million shares were bought and sold for approximately kr182.88 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at kr120.82 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.33% during the next 3 months and, with a 90% probability hold a price between kr68.68 and kr110.76 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.
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NOD.OL Signals & Forecast
The Nordic Semiconductor ASA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr98.19 and kr88.48. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, April 24, 2024, and so far it has fallen -0.95%. Further fall is indicated until a new bottom pivot has been found. 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 Nordic Semiconductor ASA stock
On the downside, the stock finds support just below today's level from accumulated volume at kr97.30 and kr94.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nordic Semiconductor ASA finds support just below today's level at kr97.30. If this is broken, then the next support from accumulated volume will be at kr94.00 and kr90.80.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr6.85 between high and low, or 5.87%. For the last week, the stock has had daily average volatility of 5.31%.
The Nordic Semiconductor ASA stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: kr115.41 (-3.70%) (This stock has high daily movements and this gives high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (NOD.OL) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Nordic Semiconductor ASA to open at kr120.03, and during the day (based on 14 day Average True Range), to move between kr114.23 and kr125.47, which gives a possible trading interval of +/-kr5.62 (+/-4.69%) up or down from last closing price. If Nordic Semiconductor ASA takes out the full calculated possible swing range there will be an estimated 9.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr121.00 (0.96%) than the support at kr97.30 (18.82%), 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 Nordic Semiconductor ASA stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.005 Buy Candidate Upgraded
Predicted Opening Price for Nordic Semiconductor ASA of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| kr120.03 ( 0.153%) | kr119.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NOD.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 126.88 | 5.87 % | |
| R2 | 124.27 | 3.69 % | ||
| R1 | 122.65 | 2.34 % | ||
| Current price: | 119.85 | |||
| Support | S1 | 117.42 | -2.03 % | |
| S2 | 115.80 | -3.38 % | ||
| S3 | 113.18 | -5.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 121.00 | 0.96 % | ||
| Current price | 119.85 | |||
| Support | S1 | 97.30 | -18.82% | |
| S2 | 94.00 | -21.57% | ||
| S3 | 90.80 | -24.24% |
NOD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2011 | Jun 17, 2011 | Jul 04, 2011 | kr0.400 | 2.02% |
| 2 | Feb 11, 2010 | Jun 10, 2010 | Jul 07, 2010 | kr0.0576 | 0.234% |
| 3 | Feb 18, 2009 | May 08, 2009 | May 20, 2009 | kr0.0400 | 1.08% |
FAQ
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