Panoro Energy ASA Stock Forecast
Red day on Thursday for Panoro Energy ASA stock after losing 0.527%
(Updated on Apr 18, 2024)
The Panoro Energy ASA stock price fell by -0.527% on the last day (Thursday, 18th Apr 2024) from kr28.45 to kr28.30. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.15% from a day low at kr27.85 to a day high of kr28.45. The price has fallen in 6 of the last 10 days but is still up by 1.98% 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 -56 thousand shares and in total, 113 thousand shares were bought and sold for approximately kr3.19 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 8.96% during the next 3 months and, with a 90% probability hold a price between kr27.77 and kr32.54 at the end of this 3-month period.
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PEN.OL Signals & Forecast
The Panoro Energy ASA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr28.61. On a fall, the stock will find some support from the long-term average at approximately kr26.96. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, April 12, 2024, and so far it has fallen -4.71%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Panoro Energy ASA stock
On the downside, the stock finds support just below today's level from accumulated volume at kr26.48 and kr26.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Panoro Energy ASA finds support just below today's level at kr26.48. If this is broken, then the next support from accumulated volume will be at kr26.20 and kr25.04.
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 kr0.600 between high and low, or 2.15%. For the last week, the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: kr26.81 (-5.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (PEN.OL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Panoro Energy ASA to open at kr28.20, and during the day (based on 14 day Average True Range), to move between kr27.63 and kr28.97, which gives a possible trading interval of +/-kr0.674 (+/-2.38%) up or down from last closing price. If Panoro Energy ASA takes out the full calculated possible swing range there will be an estimated 4.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr28.65 (1.24%) than the support at kr26.48 (6.43%), 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.
Is Panoro Energy ASA stock A Buy?
Panoro Energy ASA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.821 Hold/Accumulate Unchanged
Predicted Opening Price for Panoro Energy ASA of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
kr28.20 ( 0.353%) | kr28.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEN.OL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.80 | 1.77 % | |
R2 | 28.57 | 0.96 % | ||
R1 | 28.43 | 0.457 % | ||
Current price: | 28.30 | |||
Support | S1 | 27.97 | -1.16 % | |
S2 | 27.83 | -1.66 % | ||
S3 | 27.60 | -2.47 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 29.70 | 4.95 % | |
R2 | 28.75 | 1.59 % | ||
R1 | 28.65 | 1.24 % | ||
Current price | 28.30 | |||
Support | S1 | 26.48 | -6.43% | |
S2 | 26.20 | -7.42% | ||
S3 | 25.04 | -11.52% |
PEN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 08, 2024 | Mar 08, 2024 | Mar 08, 2024 | kr0 | 0% |
2 | Dec 07, 2023 | Dec 07, 2023 | Dec 07, 2023 | kr0 | 0% |
3 | Sep 12, 2023 | Sep 12, 2023 | Sep 12, 2023 | kr0.342 | 1.15% |
4 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | kr0.266 | 0.99% |
5 | Mar 08, 2023 | Mar 08, 2023 | Mar 08, 2023 | kr0.264 | 0.88% |
FAQ
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