Olav Thon Eiendomsselskap ASA Stock Forecast
Red day on Tuesday for Olav Thon Eiendomsselskap ASA
(Updated on May 07, 2024)
The Olav Thon Eiendomsselskap ASA stock price fell by -0.446% on the last day (Tuesday, 7th May 2024) from kr224.00 to kr223.00. During the last trading day the stock fluctuated 1.35% from a day low at kr222.00 to a day high of kr225.00. The price has fallen in 5 of the last 10 days but is still up by 0.9% 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 -20 shares and in total, 2 thousand shares were bought and sold for approximately kr471.87 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr218.53 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.94% during the next 3 months and, with a 90% probability hold a price between kr248.99 and kr275.18 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 kr222.71 and kr220.03. 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 Wednesday, April 03, 2024, and so far it has fallen -3.04%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved kr3.00 between high and low, or 1.35%. For the last week the stock has had daily average volatility of 1.91%
Our recommended stop-loss: kr213.98 (-4.04%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (OLT.OL) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Olav Thon Eiendomsselskap ASA to open at kr223.33, and during the day (based on 14 day Average True Range), to move between kr218.69 and kr227.31, which gives a possible trading interval of +/-kr4.31 (+/-1.93%) 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 3.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr224.00 (0.45%) than the support at kr221.00 (0.90%), 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
Olav Thon Eiendomsselskap ASA will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for Olav Thon Eiendomsselskap ASA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.57% in the first trading day after earnings release.
Is Olav Thon Eiendomsselskap 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 Olav Thon Eiendomsselskap ASA stock to perform well in the short-term.
Current score: 2.778 Buy Candidate Unchanged
Predicted Opening Price for Olav Thon Eiendomsselskap ASA of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| kr223.33 ( 0.149%) | kr223.00 |
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 | 226.33 | 1.49 % | |
| R2 | 225.19 | 0.98 % | ||
| R1 | 224.48 | 0.663 % | ||
| Current price: | 223.00 | |||
| Support | S1 | 222.19 | -0.364 % | |
| S2 | 221.48 | -0.682 % | ||
| S3 | 220.33 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 230.00 | 3.14 % | |
| R2 | 228.00 | 2.24 % | ||
| R1 | 224.00 | 0.448 % | ||
| Current price | 223.00 | |||
| Support | S1 | 221.00 | -0.90% | |
| S2 | 204.00 | -8.52% | ||
| S3 | 202.00 | -9.42% |
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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