Reach Subsea 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
Reach Subsea ASA stock price down 0.631% on Thursday
(Updated on May 16, 2024)
The Reach Subsea ASA stock price fell by -0.631% on the last day (Thursday, 16th May 2024) from kr6.34 to kr6.30. During the last trading day the stock fluctuated 1.27% from a day low at kr6.28 to a day high of kr6.36. The price has risen in 6 of the last 10 days and is up by 1.29% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -84 thousand shares and in total, 81 thousand shares were bought and sold for approximately kr507.73 thousand.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at kr6.36 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.14% during the next 3 months and, with a 90% probability hold a price between kr7.25 and kr7.70 at the end of this 3-month period.
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REACH.OL Signals & Forecast
The Reach Subsea 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 kr6.31. On a fall, the stock will find some support from the long-term average at approximately kr6.06. 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). 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 Wednesday, May 15, 2024, and so far it has fallen -0.631%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Reach Subsea ASA stock
Reach Subsea ASA finds support from accumulated volume at kr6.02 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr0.0800 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: kr6.05 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (REACH.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Reach Subsea ASA to open at kr6.31, and during the day (based on 14 day Average True Range), to move between kr6.15 and kr6.45, which gives a possible trading interval of +/-kr0.147 (+/-2.33%) up or down from last closing price. If Reach Subsea ASA takes out the full calculated possible swing range there will be an estimated 4.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr6.32 (0.32%) than the support at kr6.02 (4.44%), 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 Reach Subsea 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 Reach Subsea ASA stock to perform well in the short-term.
Current score: 3.077 Buy Candidate Unchanged
Predicted Opening Price for Reach Subsea ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr6.31 ( 0.212%) | kr6.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REACH.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.39 | 1.48 % | |
| R2 | 6.36 | 1.00 % | ||
| R1 | 6.34 | 0.697 % | ||
| Current price: | 6.30 | |||
| Support | S1 | 6.28 | -0.273 % | |
| S2 | 6.26 | -0.573 % | ||
| S3 | 6.23 | -1.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 6.34 | 0.635 % | ||
| R1 | 6.32 | 0.317 % | ||
| Current price | 6.30 | |||
| Support | S1 | 6.02 | -4.44% | |
| S2 | 5.98 | -5.08% | ||
| S3 | 5.40 | -14.29% |
REACH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 11, 2024 | kr0.360 | 5.73% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | kr0.180 | 4.33% |
| 3 | May 31, 2022 | May 31, 2022 | May 31, 2022 | kr0.179 | 4.64% |
| 4 | Jun 14, 2021 | Jun 14, 2021 | Jun 14, 2021 | kr0.149 | 4.67% |
| 5 | May 27, 2021 | May 27, 2021 | May 27, 2021 | kr0.150 | 4.78% |
FAQ
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