Scana ASA Stock Forecast
Scana ASA stock price up 0.238% on Friday
(Updated on May 24, 2024)
The Scana ASA stock price gained 0.238% on the last trading day (Friday, 24th May 2024), rising from kr2.11 to kr2.11. During the last trading day the stock fluctuated 2.38% from a day low at kr2.10 to a day high of kr2.15. The price has been going up and down for this period, and there has been a -7.46% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 498 thousand shares were bought and sold for approximately kr1.05 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.94% during the next 3 months and, with a 90% probability hold a price between kr1.97 and kr2.30 at the end of this 3-month period.
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SCANA.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 0.716%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Scana ASA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Scana ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr2.18 and kr2.16. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Scana ASA stock
Scana ASA finds support from accumulated volume at kr2.10 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 kr0.0500 between high and low, or 2.38%. For the last week, the stock has had daily average volatility of 5.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCANA.OL) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Scana ASA to open at kr2.12, and during the day (based on 14 day Average True Range), to move between kr2.02 and kr2.20, which gives a possible trading interval of +/-kr0.0923 (+/-4.38%) up or down from last closing price. If Scana ASA takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr2.10 (0.47%) than the resistance at kr2.18 (3.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Scana ASA stock A Buy?
Scana 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.
Current score: -2.300 Sell Candidate Unchanged
Predicted Opening Price for Scana ASA of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| kr2.12 ( 0.474%) | kr2.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCANA.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.17 | 2.84 % | |
| R2 | 2.15 | 1.94 % | ||
| R1 | 2.14 | 1.38 % | ||
| Current price: | 2.11 | |||
| Support | S1 | 2.10 | -0.431 % | |
| S2 | 2.09 | -0.99 % | ||
| S3 | 2.07 | -1.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.27 | 7.58 % | |
| R2 | 2.19 | 3.55 % | ||
| R1 | 2.18 | 3.32 % | ||
| Current price | 2.11 | |||
| Support | S1 | 2.10 | -0.474% | |
| S2 | 2.10 | -0.711% | ||
| S3 | 2.08 | -1.66% |
SCANA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Apr 03, 2024 | kr0.0500 | 2.31% |
| 2 | Feb 17, 2010 | Apr 29, 2010 | May 12, 2010 | kr8.39 | 3.50% |
| 3 | Feb 20, 2009 | Apr 30, 2009 | May 13, 2009 | kr8.24 | 4.70% |
| 4 | Mar 28, 2008 | Apr 30, 2008 | May 13, 2008 | kr13.73 | 3.25% |
| 5 | Feb 28, 2007 | May 04, 2007 | May 16, 2007 | kr9.06 | 2.00% |
FAQ
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