PGS 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
Evaluation of PGS ASA stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The PGS ASA stock price fell by -0.331% on the last day (Tuesday, 25th Jun 2024) from kr8.47 to kr8.44. During the last trading day the stock fluctuated 4.59% from a day low at kr8.32 to a day high of kr8.70. The price has fallen in 6 of the last 10 days and is down by -4.46% for this period. Volume has increased on the last day by 2 million 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, 3 million shares were bought and sold for approximately kr29.20 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 2.69% during the next 3 months and, with a 90% probability hold a price between kr8.13 and kr9.75 at the end of this 3-month period.
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PGS.OL Signals & Forecast
There are mixed signals in the stock today. The PGS ASA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr8.46. On a fall, the stock will find some support from the short-term average at kr8.36. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 5.29%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for PGS ASA stock
PGS ASA finds support from accumulated volume at kr8.07 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 kr0.382 between high and low, or 4.59%. For the last week, the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PGS.OL) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect PGS ASA to open at kr8.48, and during the day (based on 14 day Average True Range), to move between kr8.09 and kr8.79, which gives a possible trading interval of +/-kr0.355 (+/-4.20%) up or down from last closing price. If PGS ASA takes out the full calculated possible swing range there will be an estimated 8.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr8.55 (1.30%) than the support at kr8.07 (4.34%), 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?
PGS ASA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.769 Sell Candidate Downgraded
Predicted Opening Price for PGS ASA of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| kr8.48 ( 0.529%) | kr8.44 |
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 | |
|---|---|---|
| R3 | 8.87 | 5.06% |
| R2 | 8.72 | 3.33% |
| R1 | 8.63 | 2.26% |
| Price | 8.44 | |
| S1 | 8.34 | -1.20% |
| S2 | 8.25 | -2.27% |
| S3 | 8.10 | -4.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.99 | 6.52% |
| R2 | 8.68 | 2.89% |
| R1 | 8.55 | 1.30% |
| Price | 8.44 | |
| S1 | 8.07 | -4.34% |
| S2 | 8.02 | -5.02% |
| S3 | 7.86 | -6.85% |
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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