Shelf Drilling Ltd Stock Forecast
Shelf Drilling Ltd stock upgraded to Sell Candidate.
(Updated on Apr 26, 2024)
The Shelf Drilling Ltd stock price gained 0.106% on the last trading day (Friday, 26th Apr 2024), rising from kr18.86 to kr18.88. During the last trading day the stock fluctuated 3.30% from a day low at kr18.78 to a day high of kr19.40. The price has fallen in 6 of the last 10 days and is down by -5.46% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 110 thousand more shares were traded than the day before. In total, 545 thousand shares were bought and sold for approximately kr10.28 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr18.66 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -35.06% during the next 3 months and, with a 90% probability hold a price between kr12.12 and kr14.70 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHLF.OL Signals & Forecast
There are mixed signals in the stock today. The Shelf Drilling Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr19.18 and kr22.37. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.106%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shelf Drilling Ltd stock
Shelf Drilling Ltd finds support from accumulated volume at kr18.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr0.620 between high and low, or 3.30%. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHLF.OL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Shelf Drilling Ltd to open at kr19.02, and during the day (based on 14 day Average True Range), to move between kr17.98 and kr19.78, which gives a possible trading interval of +/-kr0.90 (+/-4.79%) up or down from last closing price. If Shelf Drilling Ltd takes out the full calculated possible swing range there will be an estimated 9.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr18.86 (0.11%) than the resistance at kr19.00 (0.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shelf Drilling Ltd stock A Buy?
Shelf Drilling Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.064 Sell Candidate Upgraded
Predicted Opening Price for Shelf Drilling Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| kr19.02 ( 0.742%) | kr18.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHLF.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.64 | 4.03 % | |
| R2 | 19.40 | 2.77 % | ||
| R1 | 19.26 | 2.00 % | ||
| Current price: | 18.88 | |||
| Support | S1 | 18.78 | -0.513 % | |
| S2 | 18.64 | -1.29 % | ||
| S3 | 18.40 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.28 | 2.12 % | |
| R2 | 19.15 | 1.43 % | ||
| R1 | 19.00 | 0.636 % | ||
| Current price | 18.88 | |||
| Support | S1 | 18.86 | -0.106% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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