Solstad Offshore ASA Stock Forecast
Solstad Offshore ASA stock price ended at kr42.70 on Monday, after gaining 1.91%.
(Updated on Apr 29, 2024)
The Solstad Offshore ASA stock price gained 1.91% on the last trading day (Monday, 29th Apr 2024), rising from kr41.90 to kr42.70. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.81% from a day low at kr41.50 to a day high of kr43.08. The price has been going up and down for this period, and there has been a 2.4% gain for the last 2 weeks. Volume fell on the last day by -150 thousand shares and in total, 176 thousand shares were bought and sold for approximately kr7.50 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 21.54% during the next 3 months and, with a 90% probability hold a price between kr43.50 and kr55.24 at the end of this 3-month period.
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SOFF.OL Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -2.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Solstad Offshore ASA 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 kr40.82 and kr38.44. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Solstad Offshore ASA stock
On the downside, the stock finds support just below today's level from accumulated volume at kr38.50 and kr35.70. 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, Solstad Offshore ASA finds support just below today's level at kr38.50. If this is broken, then the next support from accumulated volume will be at kr35.70 and kr34.66.
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 kr1.58 between high and low, or 3.81%. For the last week, the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: kr41.11 (-3.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (SOFF.OL) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Solstad Offshore ASA to open at kr42.43, and during the day (based on 14 day Average True Range), to move between kr40.89 and kr44.51, which gives a possible trading interval of +/-kr1.81 (+/-4.25%) up or down from last closing price. If Solstad Offshore ASA takes out the full calculated possible swing range there will be an estimated 8.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr44.00 (3.04%) than the support at kr38.50 (9.84%), 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 Solstad Offshore ASA 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 Solstad Offshore ASA stock to perform well in the short-term.
Current score: 4.310 Buy Candidate Unchanged
Predicted Opening Price for Solstad Offshore ASA of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| kr42.43 ( 0.640%) | kr42.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOFF.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.01 | 3.06 % | |
| R2 | 43.40 | 1.65 % | ||
| R1 | 43.03 | 0.773 % | ||
| Current price: | 42.70 | |||
| Support | S1 | 41.82 | -2.05 % | |
| S2 | 41.45 | -2.93 % | ||
| S3 | 40.85 | -4.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 44.00 | 3.04 % | ||
| Current price | 42.70 | |||
| Support | S1 | 38.50 | -9.84% | |
| S2 | 35.70 | -16.39% | ||
| S3 | 34.66 | -18.83% |
SOFF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 24, 2015 | May 19, 2015 | Jun 10, 2015 | kr3,455.73 | 7.95% |
| 2 | Feb 27, 2014 | May 20, 2014 | Jun 10, 2014 | kr4,936.76 | 4.67% |
| 3 | Feb 26, 2013 | May 15, 2013 | Jun 07, 2013 | kr2,468.38 | 2.51% |
| 4 | Feb 28, 2012 | May 10, 2012 | Jun 06, 2012 | kr1,481.03 | 1.67% |
| 5 | Feb 28, 2011 | May 24, 2011 | Jun 10, 2011 | kr1,974.70 | 1.79% |
FAQ
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