Opera Limited Stock Forecast
Green day on Wednesday for Opera Limited stock after gaining 0.91%
(Updated on Apr 24, 2024)
The Opera Limited stock price gained 0.91% on the last trading day (Wednesday, 24th Apr 2024), rising from $14.36 to $14.49. During the last trading day the stock fluctuated 3.75% from a day low at $14.12 to a day high of $14.65. The price has been going up and down for this period, and there has been a -6.88% loss for the last 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 728 thousand shares were bought and sold for approximately $10.56 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very 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 $14.23 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 42.33% during the next 3 months and, with a 90% probability hold a price between $20.25 and $27.40 at the end of this 3-month period.
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OPRA Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Opera Limited 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 $14.52 and $15.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -12.55%. 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 Opera Limited stock
Opera Limited finds support from accumulated volume at $14.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.530 between high and low, or 3.75%. For the last week, the stock has had daily average volatility of 4.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OPRA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Opera Limited to open at $14.42, and during the day (based on 14 day Average True Range), to move between $13.68 and $15.30, which gives a possible trading interval of +/-$0.81 (+/-5.56%) up or down from last closing price. If Opera Limited takes out the full calculated possible swing range there will be an estimated 11.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.10 (2.69%) than the resistance at $15.61 (7.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Opera Limited will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.150. We will update the financials statements for Opera Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.88% in the first trading day after earnings release.
Is Opera Limited stock A Buy?
The Opera Limited stock holds several negative signals and despite the positive trend, we believe Opera Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.118 Sell Candidate Unchanged
Predicted Opening Price for Opera Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $14.42 ( 0.483%) | $14.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OPRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.95 | 3.17 % | |
| R2 | 14.75 | 1.78 % | ||
| R1 | 14.62 | 0.91 % | ||
| Current price: | 14.49 | |||
| Support | S1 | 14.22 | -1.88 % | |
| S2 | 14.09 | -2.74 % | ||
| S3 | 13.89 | -4.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.57 | 14.35 % | |
| R2 | 16.34 | 12.73 % | ||
| R1 | 15.61 | 7.73 % | ||
| Current price | 14.49 | |||
| Support | S1 | 14.10 | -2.69% | |
| S2 | 12.18 | -15.94% | ||
| S3 | 10.98 | -24.22% |
OPRA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 12, 2023 | Jan 02, 2024 | Jan 09, 2024 | $0.400 | 3.31% |
| 2 | Jun 14, 2023 | Jun 29, 2023 | Jul 12, 2023 | $0.400 | 1.53% |
| 3 | May 10, 2023 | Jan 27, 2023 | Feb 09, 2023 | $0.80 | 11.02% |
FAQ
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