Sparebanken Sør Stock Forecast
Green day on Friday for Sparebanken Sør stock after gaining 0.678%
(Updated on Jun 28, 2024)
The Sparebanken Sør stock price gained 0.678% on the last trading day (Friday, 28th Jun 2024), rising from kr147.60 to kr148.60. 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 0.99% from a day low at kr147.54 to a day high of kr149.00. The price has risen in 6 of the last 10 days and is up by 0.41% 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, 5 thousand more shares were traded than the day before. In total, 11 thousand shares were bought and sold for approximately kr1.56 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr147.06 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.11% during the next 3 months and, with a 90% probability hold a price between kr154.57 and kr163.74 at the end of this 3-month period.
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SOR.OL Signals & Forecast
The Sparebanken Sør 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 kr147.25 and kr148.51. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 23, 2024, and so far it has fallen -2.62%. 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 stock had a Golden Star Signal on Thursday, April 18, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, April 18, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Sparebanken Sør stock
Sparebanken Sør finds support from accumulated volume at kr146.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 kr1.46 between high and low, or 0.99%. For the last week the stock has had daily average volatility of 0.785%.
Our recommended stop-loss: kr140.57 (-5.40%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (SOR.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sparebanken Sør to open at kr148.38, and during the day (based on 14 day Average True Range), to move between kr146.82 and kr150.38, which gives a possible trading interval of +/-kr1.78 (+/-1.20%) up or down from last closing price. If Sparebanken Sør takes out the full calculated possible swing range there will be an estimated 2.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr148.90 (0.20%) than the support at kr146.70 (1.28%), 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 Sparebanken Sør stock A Buy?
Sparebanken Sør 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: 0.539 Hold/Accumulate Unchanged
Predicted Opening Price for Sparebanken Sør of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr148.38 ( 0.148%) | kr148.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOR.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 149.84 | 0.83% |
| R2 | 149.28 | 0.459% |
| R1 | 148.94 | 0.227% |
| Price | 148.60 | |
| S1 | 147.82 | -0.523% |
| S2 | 147.48 | -0.755% |
| S3 | 146.92 | -1.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 150.62 | 1.36% |
| R2 | 149.80 | 0.81% |
| R1 | 148.90 | 0.202% |
| Price | 148.60 | |
| S1 | 146.70 | -1.28% |
| S2 | 143.76 | -3.26% |
| S3 | 140.14 | -5.69% |
SOR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Apr 04, 2024 | kr10.00 | 7.15% |
| 2 | Mar 31, 2023 | Mar 31, 2023 | Mar 31, 2023 | kr6.00 | 4.69% |
| 3 | Apr 01, 2022 | Apr 01, 2022 | Apr 01, 2022 | kr8.00 | 5.08% |
| 4 | Nov 01, 2021 | Nov 01, 2021 | Nov 01, 2021 | kr3.60 | 2.53% |
| 5 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | kr14.00 | 10.33% |
FAQ
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