Sogn Sparebank Stock Forecast
Stronger technical forecast for Sogn Sparebank stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The Sogn Sparebank stock price gained 1.62% on the last trading day (Tuesday, 30th Apr 2024), rising from kr184.00 to kr186.98. During the last trading day the stock fluctuated 0.81% from a day low at kr185.50 to a day high of kr187.00. The price has risen in 5 of the last 10 days but is still down by -6.98% for this period. Volume fell on the last day by -71 shares and in total, 55 shares were bought and sold for approximately kr10.28 thousand. 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 wide and weak 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 6.77% during the next 3 months and, with a 90% probability hold a price between kr193.58 and kr223.84 at the end of this 3-month period.
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SOGN.OL Signals & Forecast
There are mixed signals in the stock today. The Sogn Sparebank stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr187.50. On a fall, the stock will find some support from the short-term average at kr184.31. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.88%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Sogn Sparebank stock
Sogn Sparebank finds support from accumulated volume at kr186.00 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr1.50 between high and low, or 0.81%. For the last week the stock has had daily average volatility of 0.92%.
Our recommended stop-loss: kr178.28 (-4.65%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (SOGN.OL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Sogn Sparebank to open at kr186.49, and during the day (based on 14 day Average True Range), to move between kr182.14 and kr191.82, which gives a possible trading interval of +/-kr4.84 (+/-2.59%) up or down from last closing price. If Sogn Sparebank takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr186.00 (0.52%) than the resistance at kr199.00 (6.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Sogn Sparebank will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.90. We will update the financials statements for Sogn Sparebank, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0.578% in the first trading day after earnings release.
Is Sogn Sparebank stock A Buy?
Sogn Sparebank 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.310 Hold/Accumulate Upgraded
Predicted Opening Price for Sogn Sparebank of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
kr186.49 ( 0.260%) | kr186.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOGN.OL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 187.99 | 0.542 % | |
R2 | 187.42 | 0.235 % | ||
R1 | 187.07 | 0.0462 % | ||
Current price: | 186.98 | |||
Support | S1 | 185.92 | -0.567 % | |
S2 | 185.57 | -0.756 % | ||
S3 | 184.99 | -1.06 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 205.85 | 10.09 % | |
R2 | 201.00 | 7.50 % | ||
R1 | 199.00 | 6.43 % | ||
Current price | 186.98 | |||
Support | S1 | 186.00 | -0.524% | |
S2 | 181.00 | -3.20% | ||
S3 | 180.00 | -3.73% |
SOGN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 18, 2024 | Apr 18, 2024 | Apr 18, 2024 | kr0 | 0% |
2 | Apr 21, 2023 | Apr 21, 2023 | Apr 21, 2023 | kr10.00 | 5.41% |
3 | Apr 28, 2022 | Apr 28, 2022 | Apr 28, 2022 | kr5.50 | 3.77% |
4 | Apr 29, 2021 | Apr 29, 2021 | Apr 29, 2021 | kr6.50 | 5.91% |
5 | Apr 16, 2020 | Apr 16, 2020 | Apr 16, 2020 | kr3.00 | 3.06% |
FAQ
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