PetroNor E&P Limited Stock Forecast

PetroNor E&P Limited stock price ended at kr9.41 on Monday, after gaining 0.427%.
(Updated on Jun 17, 2024)

PNOR.OL Signals & Forecast

There are mixed signals in the stock today. The PetroNor E&P Limited 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 kr9.76. On a fall, the stock will find some support from the short-term average at kr9.39. 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). A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 1.40%. Further rise is indicated until a new top pivot has been found. 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 PetroNor E&P Limited stock

PetroNor E&P Limited finds support from accumulated volume at kr9.28 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 kr0.190 between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 2.52%.

PetroNor E&P Limited is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PNOR.OL) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect PetroNor E&P Limited to open at kr9.39, and during the day (based on 14 day Average True Range), to move between kr9.08 and kr9.74, which gives a possible trading interval of +/-kr0.330 (+/-3.50%) up or down from last closing price. If PetroNor E&P Limited takes out the full calculated possible swing range there will be an estimated 7.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr9.52 (1.17%) than the support at kr9.28 (1.38%), 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 PetroNor E&P Limited stock A Buy?

PetroNor E&P Limited 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.

Current score: -1.944 Sell Candidate Unchanged

Predicted Opening Price for PetroNor E&P Limited of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.