Olav Thon Eiendomsselskap ASA Stock Forecast
Stronger technical forecast for Olav Thon Eiendomsselskap ASA stock price after Friday trading.
(Updated on Apr 26, 2024)
The Olav Thon Eiendomsselskap ASA stock price gained 2.75% on the last trading day (Friday, 26th Apr 2024), rising from kr218.00 to kr224.00. During the last trading day the stock fluctuated 2.75% from a day low at kr218.00 to a day high of kr224.00. The price has fallen in 5 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 316 more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately kr755.55 thousand.
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 14.61% during the next 3 months and, with a 90% probability hold a price between kr246.90 and kr273.30 at the end of this 3-month period.
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OLT.OL Signals & Forecast
The Olav Thon Eiendomsselskap 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 kr220.71 and kr217.14. A breakdown below any of these levels will issue sell signals. Olav Thon Eiendomsselskap ASA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 03, 2024, and so far it has fallen -2.61%. 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).
Support, Risk & Stop-loss for Olav Thon Eiendomsselskap ASA stock
Olav Thon Eiendomsselskap ASA finds support from accumulated volume at kr221.00 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 kr6.00 between high and low, or 2.75%. For the last week the stock has had daily average volatility of 1.37%.
Our recommended stop-loss: kr214.64 (-4.18%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (OLT.OL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Olav Thon Eiendomsselskap ASA to open at kr222.00, and during the day (based on 14 day Average True Range), to move between kr219.96 and kr228.04, which gives a possible trading interval of +/-kr4.04 (+/-1.80%) up or down from last closing price. If Olav Thon Eiendomsselskap ASA takes out the full calculated possible swing range there will be an estimated 3.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr226.00 (0.89%) than the support at kr221.00 (1.34%), 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 Olav Thon Eiendomsselskap ASA stock A Buy?
Olav Thon Eiendomsselskap ASA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.224 Strong Buy Candidate Upgraded
Predicted Opening Price for Olav Thon Eiendomsselskap ASA of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| kr222.00 ( 0.89%) | kr224.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OLT.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 228.00 | 1.79 % | |
| R2 | 225.71 | 0.762 % | ||
| R1 | 224.29 | 0.130 % | ||
| Current price: | 224.00 | |||
| Support | S1 | 219.71 | -1.92 % | |
| S2 | 218.29 | -2.55 % | ||
| S3 | 216.00 | -3.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 230.00 | 2.68 % | |
| R2 | 228.00 | 1.79 % | ||
| R1 | 226.00 | 0.89 % | ||
| Current price | 224.00 | |||
| Support | S1 | 221.00 | -1.34% | |
| S2 | 204.00 | -8.93% | ||
| S3 | 202.00 | -9.82% |
OLT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | May 29, 2024 | kr7.00 | 3.14% |
| 2 | May 25, 2023 | May 25, 2023 | May 25, 2023 | kr6.50 | 3.82% |
| 3 | May 20, 2022 | May 20, 2022 | May 20, 2022 | kr6.50 | 3.59% |
| 4 | Sep 01, 2021 | Sep 01, 2021 | Sep 01, 2021 | kr5.00 | 2.48% |
| 5 | May 22, 2020 | May 22, 2020 | May 22, 2020 | kr5.00 | 3.82% |
FAQ
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