Panoro Energy ASA Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Panoro Energy ASA stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The Panoro Energy ASA stock price gained 4.18% on the last trading day (Tuesday, 30th Apr 2024), rising from kr27.50 to kr28.65. During the last trading day the stock fluctuated 5.96% from a day low at kr27.70 to a day high of kr29.35. The price has fallen in 6 of the last 10 days but is still up by 0.53% 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, 293 thousand more shares were traded than the day before. In total, 665 thousand shares were bought and sold for approximately kr19.04 million.
The stock lies in the middle of a wide and strong 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 13.78% during the next 3 months and, with a 90% probability hold a price between kr30.38 and kr34.62 at the end of this 3-month period.
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PEN.OL Signals & Forecast
The Panoro Energy 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 kr27.86 and kr27.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 4.18%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 kr26.20 and kr25.04. 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 kr26.20. If this is broken, then the next support from accumulated volume will be at kr25.04 and kr25.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr1.65 (5.96%) between high and low. For the last week, the stock has had daily average volatility of 3.49%.
Our recommended stop-loss: kr27.34 (-4.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (PEN.OL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Panoro Energy ASA to open at kr28.57, and during the day (based on 14 day Average True Range), to move between kr27.85 and kr29.45, which gives a possible trading interval of +/-kr0.796 (+/-2.78%) up or down from last closing price. If Panoro Energy ASA takes out the full calculated possible swing range there will be an estimated 5.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr28.75 (0.35%) than the support at kr26.20 (8.55%), 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 and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.235 Strong Buy Candidate Upgraded
Predicted Opening Price for Panoro Energy ASA of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| kr28.57 ( 0.291%) | kr28.65 |
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 | 30.22 | 5.47 % | |
| R2 | 29.59 | 3.27 % | ||
| R1 | 29.20 | 1.91 % | ||
| Current price: | 28.65 | |||
| Support | S1 | 27.94 | -2.49 % | |
| S2 | 27.55 | -3.85 % | ||
| S3 | 26.92 | -6.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 29.70 | 3.66 % | ||
| R1 | 28.75 | 0.349 % | ||
| Current price | 28.65 | |||
| Support | S1 | 26.20 | -8.55% | |
| S2 | 25.04 | -12.60% | ||
| S3 | 25.00 | -12.74% |
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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