Seadrill Ltd Stock Forecast
On Thursday, Seadrill Ltd stock price gained an impressive 5.84%
(Updated on May 16, 2024)
The Seadrill Ltd stock price gained 5.84% on the last trading day (Thursday, 16th May 2024), rising from kr531.00 to kr562.00. During the last trading day the stock fluctuated 5.22% from a day low at kr536.50 to a day high of kr564.50. The price has risen in 6 of the last 10 days and is up by 3.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 84 thousand more shares were traded than the day before. In total, 133 thousand shares were bought and sold for approximately kr74.76 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 24.61% during the next 3 months and, with a 90% probability hold a price between kr664.30 and kr773.84 at the end of this 3-month period.
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SDRL.OL Signals & Forecast
The Seadrill Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr549.50 and kr551.07. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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, April 12, 2024, and so far it has fallen -2.18%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Seadrill Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at kr530.00 and kr526.00. 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, Seadrill Ltd finds support just below today's level at kr530.00. If this is broken, then the next support from accumulated volume will be at kr526.00 and kr435.00.
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 kr28.00 between high and low, or 5.22%. For the last week the stock has had daily average volatility of 3.78%.
Our recommended stop-loss: kr539.48 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (SDRL.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Seadrill Ltd to open at kr554.33, and during the day (based on 14 day Average True Range), to move between kr545.75 and kr578.25, which gives a possible trading interval of +/-kr16.25 (+/-2.89%) up or down from last closing price. If Seadrill Ltd takes out the full calculated possible swing range there will be an estimated 5.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr563.50 (0.27%) than the support at kr530.00 (5.69%), 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 Seadrill Ltd 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 Seadrill Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.211 Buy Candidate Upgraded
Predicted Opening Price for Seadrill Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr554.33 ( 1.36%) | kr562.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SDRL.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 582.33 | 3.62 % | |
| R2 | 571.64 | 1.71 % | ||
| R1 | 565.03 | 0.539 % | ||
| Current price: | 562.00 | |||
| Support | S1 | 543.64 | -3.27 % | |
| S2 | 537.03 | -4.44 % | ||
| S3 | 526.33 | -6.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 566.50 | 0.80 % | |
| R2 | 565.50 | 0.623 % | ||
| R1 | 563.50 | 0.267 % | ||
| Current price | 562.00 | |||
| Support | S1 | 530.00 | -5.69% | |
| S2 | 526.00 | -6.41% | ||
| S3 | 435.00 | -22.60% |
FAQ
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