OKEA ASA Stock Forecast
Red day on Wednesday for OKEA ASA stock after losing 0.576%
(Updated on Apr 24, 2024)
The OKEA ASA stock price fell by -0.576% on the last day (Wednesday, 24th Apr 2024) from kr27.76 to kr27.60. During the last trading day the stock fluctuated 3.30% from a day low at kr27.26 to a day high of kr28.16. The price has fallen in 6 of the last 10 days but is still up by 5.75% over the past 2 weeks. Volume has increased on the last day by 36 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 402 thousand shares were bought and sold for approximately kr11.11 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.92% during the next 3 months and, with a 90% probability hold a price between kr30.83 and kr34.03 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
OKEA.OL Signals & Forecast
The OKEA 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 kr27.41 and kr25.69. 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 Monday, April 22, 2024, and so far it has fallen -1.36%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for OKEA ASA stock
On the downside, the stock finds support just below today's level from accumulated volume at kr24.08 and kr23.52. 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, OKEA ASA finds support just below today's level at kr24.08. If this is broken, then the next support from accumulated volume will be at kr23.52 and kr23.44.
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 kr0.90 between high and low, or 3.30%. For the last week, the stock has had daily average volatility of 3.71%.
Our recommended stop-loss: kr26.74 (-3.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (OKEA.OL) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect OKEA ASA to open at kr27.67, and during the day (based on 14 day Average True Range), to move between kr26.67 and kr28.53, which gives a possible trading interval of +/-kr0.93 (+/-3.38%) up or down from last closing price. If OKEA ASA takes out the full calculated possible swing range there will be an estimated 6.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr27.64 (0.14%) than the support at kr24.08 (12.75%), 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
OKEA ASA will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.81. We will update the financials statements for OKEA ASA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.87% in the first trading day after earnings release.
Is OKEA ASA stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for OKEA ASA stock to perform well in the short-term.
Current score: 3.404 Buy Candidate Unchanged
Predicted Opening Price for OKEA ASA of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| kr27.67 ( 0.266%) | kr27.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OKEA.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.57 | 3.53 % | |
| R2 | 28.23 | 2.28 % | ||
| R1 | 28.02 | 1.51 % | ||
| Current price: | 27.60 | |||
| Support | S1 | 27.33 | -0.98 % | |
| S2 | 27.12 | -1.75 % | ||
| S3 | 26.77 | -3.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.98 | 1.38 % | |
| R2 | 27.76 | 0.580 % | ||
| R1 | 27.64 | 0.145 % | ||
| Current price | 27.60 | |||
| Support | S1 | 24.08 | -12.75% | |
| S2 | 23.52 | -14.78% | ||
| S3 | 23.44 | -15.07% |
OKEA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | kr0 | 0% |
| 2 | Sep 01, 2023 | Sep 01, 2023 | Sep 01, 2023 | kr1.00 | 2.55% |
| 3 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | kr1.00 | 3.11% |
| 4 | Mar 02, 2023 | Mar 02, 2023 | Mar 02, 2023 | kr1.00 | 3.17% |
| 5 | Dec 02, 2022 | Dec 02, 2022 | Dec 02, 2022 | kr1.00 | 2.66% |
FAQ
Click here for our free guide on how to buy OKEA ASA Stock.
