Protector Forsikring ASA Stock Forecast

Protector Forsikring ASA stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)

PROT.OL Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -3.42%. 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. The Protector Forsikring ASA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr225.71 and kr222.23. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Wednesday, March 20, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Protector Forsikring ASA stock

Protector Forsikring ASA finds support from accumulated volume at kr222.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr3.00 (1.33%) between high and low. For the last week, the stock has had daily average volatility of 2.96%.

Our recommended stop-loss: kr217.93 (-3.57%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (PROT.OL) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Protector Forsikring ASA to open at kr227.00, and during the day (based on 14 day Average True Range), to move between kr219.89 and kr232.11, which gives a possible trading interval of +/-kr6.11 (+/-2.70%) up or down from last closing price. If Protector Forsikring ASA takes out the full calculated possible swing range there will be an estimated 5.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr227.00 (0.44%) than the support at kr222.50 (1.55%), 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 Protector Forsikring ASA stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Protector Forsikring ASA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.447 Buy Candidate Upgraded

Predicted Opening Price for Protector Forsikring ASA of Thursday, May 2, 2024

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