Selvaag Bolig ASA Stock Forecast

Selvaag Bolig ASA stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 08, 2024)

SBO.OL Signals & Forecast

There are mixed signals in the stock today. The Selvaag Bolig ASA 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 kr36.46. On a fall, the stock will find some support from the short-term average at kr35.25. 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). Selvaag Bolig ASA 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". A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 7.86%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Selvaag Bolig ASA stock

On the downside, the stock finds support just below today's level from accumulated volume at kr33.00 and kr32.85. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Selvaag Bolig ASA finds support just below today's level at kr33.00. If this is broken, then the next support from accumulated volume will be at kr32.85 and kr31.50.

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 kr1.20 between high and low, or 3.37%. For the last week, the stock has had daily average volatility of 3.61%.

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

Trading Expectations (SBO.OL) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Selvaag Bolig ASA to open at kr36.28, and during the day (based on 14 day Average True Range), to move between kr35.01 and kr37.69, which gives a possible trading interval of +/-kr1.34 (+/-3.70%) up or down from last closing price. If Selvaag Bolig ASA takes out the full calculated possible swing range there will be an estimated 7.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr36.60 (0.69%) than the support at kr33.00 (9.22%), 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 Selvaag Bolig ASA stock A Buy?

Selvaag Bolig ASA 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.050 Sell Candidate Downgraded

Predicted Opening Price for Selvaag Bolig ASA of Friday, May 10, 2024

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