Ørsted A/S Stock Forecast
Ørsted A/S stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Ørsted A/S stock price fell by -1.28% on the last day (Tuesday, 2nd Jul 2024) from kr376.00 to kr371.20. During the last trading day the stock fluctuated 2.76% from a day low at kr365.70 to a day high of kr375.80. The price has fallen in 5 of the last 10 days and is down by -4.92% for this period. Volume has increased on the last day by 34 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, 442 thousand shares were bought and sold for approximately kr164.16 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at kr370.64 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ørsted A/S stock with a 90% probability to be traded between kr371.57 and kr434.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ORSTED.CO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 0.162%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ørsted A/S 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 kr380.86 and kr400.46. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Ørsted A/S stock
Ørsted A/S finds support from accumulated volume at kr370.60 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 kr10.10 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: kr351.12 (-5.41%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (ORSTED.CO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ørsted A/S to open at kr370.90, and during the day (based on 14 day Average True Range), to move between kr359.36 and kr383.04, which gives a possible trading interval of +/-kr11.84 (+/-3.19%) up or down from last closing price. If Ørsted A/S takes out the full calculated possible swing range there will be an estimated 6.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr370.60 (0.16%) than the resistance at kr398.80 (7.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ørsted A/S stock A Buy?
Ørsted A/S holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.170 Hold/Accumulate Upgraded
Predicted Opening Price for Ørsted A/S of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr370.90 ( 0.0808%) | kr371.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORSTED.CO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 381.00 | 2.64% |
| R2 | 377.14 | 1.60% |
| R1 | 374.76 | 0.96% |
| Price | 371.20 | |
| S1 | 367.04 | -1.12% |
| S2 | 364.66 | -1.76% |
| S3 | 360.80 | -2.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 419.00 | 12.88% |
| R2 | 415.10 | 11.83% |
| R1 | 398.80 | 7.44% |
| Price | 371.20 | |
| S1 | 370.60 | -0.162% |
| S2 | 0 | - |
| S3 | 0 | - |
ORSTED Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2023 | Mar 08, 2023 | Mar 08, 2023 | kr13.50 | 2.25% |
| 2 | Apr 11, 2022 | Apr 11, 2022 | Apr 11, 2022 | kr12.50 | 1.52% |
| 3 | Mar 02, 2021 | Mar 02, 2021 | Mar 02, 2021 | kr11.50 | 1.19% |
| 4 | Mar 03, 2020 | Mar 03, 2020 | Mar 03, 2020 | kr10.50 | 1.46% |
| 5 | Mar 06, 2019 | Mar 06, 2019 | Mar 06, 2019 | kr9.75 | 2.01% |
FAQ
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