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
PGS ASA stock upgraded to Sell Candidate.
(Updated on Jun 14, 2024)
The PGS ASA stock price fell by -3.42% on the last day (Friday, 14th Jun 2024) from kr8.30 to kr8.02. During the last trading day the stock fluctuated 6.60% from a day low at kr8.00 to a day high of kr8.53. The price has fallen in 7 of the last 10 days and is down by -14.92% 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, 6 million shares were bought and sold for approximately kr45.57 million.
Given the current short-term trend, the stock is expected to rise 11.24% during the next 3 months and, with a 90% probability hold a price between kr8.92 and kr10.67 at the end of this 3-month period.
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PGS.OL Signals & Forecast
There are few to no technical positive signals at the moment. The PGS ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr8.58 and kr8.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -14.92%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for PGS ASA stock
PGS ASA finds support from accumulated volume at kr7.86 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 kr0.528 between high and low, or 6.60%. For the last week, the stock has had daily average volatility of 5.64%.
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 Monday 17th
For the upcoming trading day on Monday, 17th we expect PGS ASA to open at kr8.18, and during the day (based on 14 day Average True Range), to move between kr7.64 and kr8.39, which gives a possible trading interval of +/-kr0.376 (+/-4.69%) up or down from last closing price. If PGS ASA takes out the full calculated possible swing range there will be an estimated 9.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr7.86 (1.92%) than the resistance at kr8.55 (6.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PGS ASA stock A Buy?
The PGS ASA stock holds several negative signals and despite the positive trend, we believe PGS ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.655 Sell Candidate Upgraded
Predicted Opening Price for PGS ASA of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| kr8.18 ( 2.05%) | kr8.02 |
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 | 8.71 | 8.63% |
| R2 | 8.51 | 6.12% |
| R1 | 8.38 | 4.56% |
| Price | 8.02 | |
| S1 | 7.98 | -0.470% |
| S2 | 7.85 | -2.02% |
| S3 | 7.65 | -4.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.99 | 12.15% |
| R2 | 8.68 | 8.33% |
| R1 | 8.55 | 6.66% |
| Price | 8.02 | |
| S1 | 7.86 | -1.92% |
| S2 | 7.83 | -2.30% |
| S3 | 7.80 | -2.69% |
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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