Norwegian Air Shuttle ASA Stock Forecast

Red day on Friday for Norwegian Air Shuttle ASA
(Updated on May 03, 2024)

NWARF Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Norwegian Air Shuttle 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 $1.34 and $1.50. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Norwegian Air Shuttle ASA stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.16. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.87%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NWARF) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Norwegian Air Shuttle ASA to open at $1.30, and during the day (based on 14 day Average True Range), to move between $1.21 and $1.39, which gives a possible trading interval of +/-$0.0881 (+/-6.78%) up or down from last closing price. If Norwegian Air Shuttle ASA takes out the full calculated possible swing range there will be an estimated 13.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.35 (3.85%) than the support at $1.16 (10.77%), 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 Norwegian Air Shuttle ASA stock A Buy?

Norwegian Air Shuttle 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: -3.003 Sell Candidate Unchanged

Predicted Opening Price for Norwegian Air Shuttle ASA of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.