SpareBank 1 Nord Norge Stock Forecast
SpareBank 1 Nord Norge stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 30, 2024)
The SpareBank 1 Nord Norge stock price fell by -0.278% on the last day (Tuesday, 30th Apr 2024) from kr100.66 to kr100.38. During the last trading day the stock fluctuated 1.00% from a day low at kr100.20 to a day high of kr101.20. The price has risen in 6 of the last 10 days and is up by 3.57% 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 -83 thousand shares and in total, 107 thousand shares were bought and sold for approximately kr10.76 million.
The stock lies the upper part of a 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 kr100.56 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 -5.94% during the next 3 months and, with a 90% probability hold a price between kr86.63 and kr94.59 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.
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NONG.OL Signals & Forecast
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 kr99.01 and kr98.33. A breakdown below any of these levels will issue sell signals. 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 Monday, April 29, 2024, and so far it has fallen -0.278%. 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 SpareBank 1 Nord Norge stock
SpareBank 1 Nord Norge finds support from accumulated volume at kr98.41 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 kr1.00 between high and low, or 1.00%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: kr96.26 (-4.11%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (NONG.OL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect SpareBank 1 Nord Norge to open at kr100.59, and during the day (based on 14 day Average True Range), to move between kr98.70 and kr102.06, which gives a possible trading interval of +/-kr1.68 (+/-1.67%) 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 3.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr100.80 (0.42%) than the support at kr98.41 (1.96%), 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.
Earnings coming up
SpareBank 1 Nord Norge will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.24. We will update the financials statements for SpareBank 1 Nord Norge, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.45% in the first trading day after earnings release.
Is SpareBank 1 Nord Norge stock A Buy?
SpareBank 1 Nord Norge holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: -0.993 Hold/Accumulate Downgraded
Predicted Opening Price for SpareBank 1 Nord Norge of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| kr100.59 ( 0.213%) | kr100.38 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 101.59 | 1.21 % | |
| R2 | 101.21 | 0.83 % | ||
| R1 | 100.98 | 0.593 % | ||
| Current price: | 100.38 | |||
| Support | S1 | 100.21 | -0.168 % | |
| S2 | 99.98 | -0.403 % | ||
| S3 | 99.59 | -0.784 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.80 | 1.41 % | |
| R2 | 101.00 | 0.618 % | ||
| R1 | 100.80 | 0.418 % | ||
| Current price | 100.38 | |||
| Support | S1 | 98.41 | -1.96% | |
| S2 | 97.20 | -3.17% | ||
| S3 | 95.80 | -4.56% |
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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