Orkla ASA Stock Forecast
Weaker technical forecast for Orkla ASA as stock downgraded to Sell Candidate.
(Updated on Mar 28, 2024)
The Orkla ASA stock price fell by -0.688% on the last day (Thursday, 28th Mar 2024) from $7.13 to $7.08. During the last trading day the stock fluctuated 2.16% from a day low at $7.05 to a day high of $7.20. The price has fallen in 6 of the last 10 days and is down by -1.91% for this period. 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 -6 thousand shares and in total, 22 thousand shares were bought and sold for approximately $157.83 thousand.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.97% during the next 3 months and, with a 90% probability hold a price between $5.87 and $6.35 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ORKLY Signals & Forecast
There are few to no technical positive signals at the moment. The Orkla 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 $7.12 and $7.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -4.89%. 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 Orkla ASA stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.152 between high and low, or 2.16%. For the last week the stock has had daily average volatility of 1.70%
Orkla ASA is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ORKLY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Orkla ASA to open at $7.11, and during the day (based on 14 day Average True Range), to move between $6.96 and $7.19, which gives a possible trading interval of +/-$0.113 (+/-1.60%) up or down from last closing price. If Orkla ASA takes out the full calculated possible swing range there will be an estimated 3.20% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $7.21, some $0.134 (1.89%) from the current price of $7.08, our system finds the risk reward not very attractive.
Is Orkla ASA stock A Buy?
Orkla ASA holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.567 Sell Candidate Downgraded
Predicted Opening Price for Orkla ASA of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$7.11 ( 0.471%) | $7.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORKLY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.26 | 2.62 % | |
R2 | 7.20 | 1.80 % | ||
R1 | 7.17 | 1.29 % | ||
Current price: | 7.08 | |||
Support | S1 | 7.05 | -0.350 % | |
S2 | 7.02 | -0.86 % | ||
S3 | 6.96 | -1.68 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.95 | 12.35 % | |
R2 | 7.94 | 12.21 % | ||
R1 | 7.21 | 1.89 % | ||
Current price | 7.08 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
ORKLY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 19, 2024 | Apr 19, 2024 | May 13, 2024 | $0.399 | 5.65% |
2 | Jul 13, 2023 | Apr 14, 2023 | May 08, 2023 | $0.288 | 3.95% |
3 | Apr 14, 2022 | Apr 21, 2022 | May 13, 2022 | $0.346 | 4.47% |
4 | Apr 15, 2021 | Apr 16, 2021 | May 06, 2021 | $0.326 | 3.18% |
5 | May 06, 2020 | Apr 17, 2020 | May 08, 2020 | $0.221 | 2.67% |
FAQ
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