SpareBank 1 Nord Norge Stock Forecast
SpareBank 1 Nord Norge stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The SpareBank 1 Nord Norge stock price gained 0.97% on the last trading day (Tuesday, 2nd Jul 2024), rising from kr101.40 to kr102.38. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.95% from a day low at kr99.95 to a day high of kr102.90. The price has been going up and down for this period, and there has been a 4.08% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 thousand more shares were traded than the day before. In total, 132 thousand shares were bought and sold for approximately kr13.47 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at kr103.24 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect SpareBank 1 Nord Norge stock with a 90% probability to be traded between kr96.32 and kr103.25 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NONG.OL Signals & Forecast
Mostly positive signals in the chart today. The SpareBank 1 Nord Norge 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 kr99.62 and kr99.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 6.30%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for SpareBank 1 Nord Norge stock
SpareBank 1 Nord Norge finds support from accumulated volume at kr100.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr2.95 between high and low, or 2.95%. For the last week the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: kr98.30 (-3.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (NONG.OL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect SpareBank 1 Nord Norge to open at kr101.74, and during the day (based on 14 day Average True Range), to move between kr100.68 and kr104.08, which gives a possible trading interval of +/-kr1.70 (+/-1.66%) up or down from last closing price. If SpareBank 1 Nord Norge takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr103.02 (0.63%) than the support at kr100.66 (1.68%), 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 SpareBank 1 Nord Norge stock A Buy?
SpareBank 1 Nord Norge holds several positive signals and is considered to be a good choice at current levels. We expect the SpareBank 1 Nord Norge stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.073 Strong Buy Candidate Upgraded
Predicted Opening Price for SpareBank 1 Nord Norge of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr101.74 ( 0.622%) | kr102.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NONG.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 104.69 | 2.26% |
| R2 | 103.57 | 1.16% |
| R1 | 102.87 | 0.479% |
| Price | 102.38 | |
| S1 | 100.62 | -1.72% |
| S2 | 99.92 | -2.40% |
| S3 | 98.79 | -3.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 103.24 | 0.84% |
| R1 | 103.02 | 0.625% |
| Price | 102.38 | |
| S1 | 100.66 | -1.68% |
| S2 | 99.00 | -3.30% |
| S3 | 98.41 | -3.88% |
NONG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Apr 04, 2024 | kr7.00 | 7.23% |
| 2 | Mar 31, 2023 | Mar 31, 2023 | Mar 31, 2023 | kr8.20 | 9.31% |
| 3 | Sep 06, 2022 | Sep 06, 2022 | Sep 06, 2022 | kr3.40 | 3.96% |
| 4 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | kr7.00 | 6.43% |
| 5 | Nov 04, 2021 | Nov 04, 2021 | Nov 04, 2021 | kr2.63 | 2.53% |
FAQ
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