Sandnes Sparebank Stock Forecast

Sandnes Sparebank stock upgraded to Buy Candidate.
(Updated on May 16, 2024)

SADG.OL Signals & Forecast

The Sandnes Sparebank 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 kr99.60 and kr99.36. A breakdown below any of these levels will issue sell signals. 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 Monday, May 13, 2024, and so far it has fallen -1.10%. Further fall is indicated until a new bottom pivot has been found. Sandnes Sparebank gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Tuesday, May 14, 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 Sandnes Sparebank stock

Sandnes Sparebank finds support from accumulated volume at kr99.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr0.490 between high and low, or 0.491%. For the last week the stock has had daily average volatility of 1.42%.

Our recommended stop-loss: kr96.78 (-3.11%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

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

For the upcoming trading day on Tuesday, 21st we expect Sandnes Sparebank to open at kr100.05, and during the day (based on 14 day Average True Range), to move between kr98.35 and kr101.43, which gives a possible trading interval of +/-kr1.54 (+/-1.54%) up or down from last closing price. If Sandnes Sparebank takes out the full calculated possible swing range there will be an estimated 3.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr99.80 (0.09%) than the resistance at kr100.00 (0.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sandnes Sparebank stock A Buy?

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

Current score: 2.142 Buy Candidate Upgraded

Predicted Opening Price for Sandnes Sparebank of Tuesday, May 21, 2024

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