PGS ASA Stock Forecast
PGS ASA stock price ended at kr8.60 on Friday, after gaining 0.679%.
(Updated on May 24, 2024)
The PGS ASA stock price gained 0.679% on the last trading day (Friday, 24th May 2024), rising from kr8.54 to kr8.60. During the last trading day the stock fluctuated 3.84% from a day low at kr8.33 to a day high of kr8.65. The price has risen in 5 of the last 10 days and is up by 5.5% over the past 2 weeks. Volume fell on the last day by -545 thousand shares and in total, 3 million shares were bought and sold for approximately kr28.55 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 23.13% during the next 3 months and, with a 90% probability hold a price between kr9.84 and kr12.11 at the end of this 3-month period.
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PGS.OL Signals & Forecast
A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -4.34%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The PGS ASA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr8.18 and kr8.39. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for PGS ASA stock
On the downside, the stock finds support just below today's level from accumulated volume at kr8.07 and kr7.86. 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, PGS ASA finds support just below today's level at kr8.07. If this is broken, then the next support from accumulated volume will be at kr7.86 and kr7.83.
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 kr0.320 between high and low, or 3.84%. For the last week, the stock has had daily average volatility of 3.59%.
Our recommended stop-loss: kr8.13 (-5.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 70 days ago.)
Trading Expectations (PGS.OL) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect PGS ASA to open at kr8.53, and during the day (based on 14 day Average True Range), to move between kr8.31 and kr8.89, which gives a possible trading interval of +/-kr0.287 (+/-3.34%) up or down from last closing price. If PGS ASA takes out the full calculated possible swing range there will be an estimated 6.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr8.68 (0.98%) than the support at kr8.07 (6.12%), 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 PGS ASA stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.923 Buy Candidate Unchanged
Predicted Opening Price for PGS ASA of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| kr8.53 ( 0.85%) | kr8.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGS.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.85 | 2.87 % | |
| R2 | 8.72 | 1.45 % | ||
| R1 | 8.65 | 0.569 % | ||
| Current price: | 8.60 | |||
| Support | S1 | 8.40 | -2.27 % | |
| S2 | 8.33 | -3.15 % | ||
| S3 | 8.21 | -4.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.99 | 4.53 % | |
| R2 | 8.89 | 3.37 % | ||
| R1 | 8.68 | 0.98 % | ||
| Current price | 8.60 | |||
| Support | S1 | 8.07 | -6.12% | |
| S2 | 7.86 | -8.58% | ||
| S3 | 7.83 | -8.93% |
PGS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2015 | May 15, 2015 | May 29, 2015 | kr0.694 | 1.46% |
| 2 | Feb 13, 2014 | May 09, 2014 | May 20, 2014 | kr2.28 | 3.56% |
| 3 | Feb 14, 2013 | May 15, 2013 | May 28, 2013 | kr1.64 | 1.82% |
| 4 | Mar 23, 2012 | May 04, 2012 | May 15, 2012 | kr1.09 | 1.49% |
| 5 | May 18, 2007 | Jun 21, 2007 | Jul 10, 2007 | kr5.45 | 3.53% |
FAQ
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