Solstad Offshore ASA Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Solstad Offshore ASA stock price down 1.01% on Tuesday
(Updated on May 21, 2024)
The Solstad Offshore ASA stock price fell by -1.01% on the last day (Tuesday, 21st May 2024) from kr45.56 to kr45.10. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.17% from a day low at kr45.10 to a day high of kr46.98. The price has been going up and down for this period, and there has been a 2.04% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -516 thousand shares and in total, 198 thousand shares were bought and sold for approximately kr8.91 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 36.58% during the next 3 months and, with a 90% probability hold a price between kr57.03 and kr68.23 at the end of this 3-month period.
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SOFF.OL Signals & Forecast
The Solstad Offshore ASA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr47.48. On a fall, the stock will find some support from the long-term average at approximately kr42.38. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, May 13, 2024, and so far it has fallen -7.96%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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 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 kr1.88 between high and low, or 4.17%. For the last week, the stock has had daily average volatility of 5.90%.
Our recommended stop-loss: kr43.11 (-4.42%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (SOFF.OL) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Solstad Offshore ASA to open at kr45.73, and during the day (based on 14 day Average True Range), to move between kr42.96 and kr47.24, which gives a possible trading interval of +/-kr2.14 (+/-4.74%) up or down from last closing price. If Solstad Offshore ASA takes out the full calculated possible swing range there will be an estimated 9.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr45.56 (1.02%) than the support at kr38.50 (14.63%), 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?
Solstad Offshore ASA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.577 Hold/Accumulate Unchanged
Predicted Opening Price for Solstad Offshore ASA of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| kr45.73 ( 1.39%) | kr45.10 |
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 | 47.61 | 5.56 % | |
| R2 | 46.89 | 3.97 % | ||
| R1 | 46.44 | 2.98 % | ||
| Current price: | 45.10 | |||
| Support | S1 | 45.01 | -0.203 % | |
| S2 | 44.56 | -1.19 % | ||
| S3 | 43.85 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.00 | 8.65 % | |
| R2 | 46.24 | 2.53 % | ||
| R1 | 45.56 | 1.02 % | ||
| Current price | 45.10 | |||
| Support | S1 | 38.50 | -14.63% | |
| S2 | 35.70 | -20.84% | ||
| S3 | 34.66 | -23.15% |
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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