poLight 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 poLight ASA stock price after Thursday trading.
(Updated on May 16, 2024)
The poLight ASA stock price gained 2.07% on the last trading day (Thursday, 16th May 2024), rising from kr2.42 to kr2.47. During the last trading day the stock fluctuated 2.90% from a day low at kr2.42 to a day high of kr2.49. The price has fallen in 7 of the last 10 days and is down by -1.2% for this period. Volume fell on the last day by -243 thousand shares and in total, 366 thousand shares were bought and sold for approximately kr903.42 thousand. 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 very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PLT.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 2.07%. Further rise is indicated until a new top pivot has been found. 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. The poLight ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr2.50 and kr3.24. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for poLight ASA stock
poLight ASA finds support from accumulated volume at kr2.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved kr0.0700 between high and low, or 2.90%. For the last week the stock has had daily average volatility of 6.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLT.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect poLight ASA to open at kr2.46, and during the day (based on 14 day Average True Range), to move between kr2.14 and kr2.80, which gives a possible trading interval of +/-kr0.326 (+/-13.19%) up or down from last closing price. If poLight ASA takes out the full calculated possible swing range there will be an estimated 26.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr2.46 (0.61%) than the resistance at kr2.50 (1.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
poLight ASA will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for poLight ASA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.76% in the first trading day after earnings release.
Is poLight ASA stock A Buy?
poLight ASA holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -3.768 Sell Candidate Upgraded
Predicted Opening Price for poLight ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr2.46 ( 0.540%) | kr2.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLT.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.53 | 2.29 % | |
| R2 | 2.50 | 1.21 % | ||
| R1 | 2.48 | 0.543 % | ||
| Current price: | 2.47 | |||
| Support | S1 | 2.43 | -1.62 % | |
| S2 | 2.41 | -2.29 % | ||
| S3 | 2.39 | -3.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.68 | 8.50 % | |
| R2 | 2.61 | 5.67 % | ||
| R1 | 2.50 | 1.21 % | ||
| Current price | 2.47 | |||
| Support | S1 | 2.46 | -0.607% | |
| S2 | 2.45 | -1.01% | ||
| S3 | 2.42 | -2.02% |
FAQ
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