Pareto Bank ASA Stock Forecast
Stronger technical forecast for Pareto Bank ASA stock price after Friday trading.
(Updated on Jun 28, 2024)
The Pareto Bank ASA stock price gained 0.83% on the last trading day (Friday, 28th Jun 2024), rising from kr60.50 to kr61.00. During the last trading day the stock fluctuated 0.83% from a day low at kr60.50 to a day high of kr61.00. The price has risen in 5 of the last 10 days and is up by 2.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately kr1.22 million.
The stock lies in the middle of a wide and weak 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 6.49% during the next 3 months and, with a 90% probability hold a price between kr61.98 and kr69.02 at the end of this 3-month period.
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PARB.OL Signals & Forecast
Mostly positive signals in the chart today. The Pareto Bank 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 kr60.26 and kr59.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 11.72%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Pareto Bank 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.
Support, Risk & Stop-loss for Pareto Bank ASA stock
Pareto Bank ASA finds support from accumulated volume at kr59.00 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 kr0.500 between high and low, or 0.83%. For the last week the stock has had daily average volatility of 1.17%.
Our recommended stop-loss: kr58.79 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 55 days ago.)
Trading Expectations (PARB.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Pareto Bank ASA to open at kr60.83, and during the day (based on 14 day Average True Range), to move between kr60.19 and kr61.81, which gives a possible trading interval of +/-kr0.81 (+/-1.33%) up or down from last closing price. If Pareto Bank ASA takes out the full calculated possible swing range there will be an estimated 2.67% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr59.00, some kr2.00 (3.28%) from the current price of kr61.00, our system finds the risk reward attractive.
Is Pareto Bank 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 Pareto Bank ASA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.925 Buy Candidate Upgraded
Predicted Opening Price for Pareto Bank ASA of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr60.83 ( 0.273%) | kr61.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PARB.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.33 | 0.546% |
| R2 | 61.14 | 0.233% |
| R1 | 61.02 | 0.0399% |
| Price | 61.00 | |
| S1 | 60.64 | -0.586% |
| S2 | 60.52 | -0.780% |
| S3 | 60.33 | -1.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 61.00 | |
| S1 | 59.00 | -3.28% |
| S2 | 58.70 | -3.77% |
| S3 | 58.10 | -4.75% |
PARB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | Apr 15, 2024 | kr3.90 | 7.00% |
| 2 | Mar 31, 2023 | Mar 31, 2023 | Mar 31, 2023 | kr3.86 | 7.26% |
| 3 | Apr 01, 2022 | Apr 01, 2022 | Apr 01, 2022 | kr3.50 | 5.73% |
| 4 | Nov 26, 2021 | Nov 26, 2021 | Nov 26, 2021 | kr3.00 | 5.08% |
| 5 | Oct 30, 2020 | Oct 30, 2020 | Oct 30, 2020 | kr2.00 | 5.24% |
FAQ
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