Protector Forsikring ASA Stock Forecast

Evaluation of Protector Forsikring ASA stock downgraded after the last trading session.
(Updated on May 16, 2024)

PROT.OL Signals & Forecast

The Protector Forsikring ASA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr236.57. On a fall, the stock will find some support from the long-term average at approximately kr227.46. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -3.11%. Further fall is indicated until a new bottom pivot has been found. 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 kr226.00 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 kr4.00 between high and low, or 1.71%. For the last week, the stock has had daily average volatility of 2.47%.

Our recommended stop-loss: kr222.69 (-4.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (PROT.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Protector Forsikring ASA to open at kr235.00, and during the day (based on 14 day Average True Range), to move between kr227.75 and kr240.25, which gives a possible trading interval of +/-kr6.25 (+/-2.67%) up or down from last closing price. If Protector Forsikring ASA takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr238.00 (1.71%) than the support at kr226.00 (3.42%), 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?

Protector Forsikring ASA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.766 Hold/Accumulate Downgraded

Predicted Opening Price for Protector Forsikring ASA of Tuesday, May 21, 2024

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