Sparebanken Øst Stock Forecast

Red day on Thursday for Sparebanken Øst
(Updated on Jun 20, 2024)

SPOG.OL Signals & Forecast

The Sparebanken Øst 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 kr54.23. On a fall, the stock will find some support from the long-term average at approximately kr53.82. 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. 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 Wednesday, June 05, 2024, and so far it has fallen -3.10%. 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). Sparebanken Øst gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Wednesday, December 13, 2023 in the long-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 Øst stock

Sparebanken Øst finds support from accumulated volume at kr53.50 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 kr1.26 between high and low, or 2.35%. For the last week the stock has had daily average volatility of 1.89%.

Our recommended stop-loss: kr51.63 (-4.37%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (SPOG.OL) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Sparebanken Øst to open at kr54.24, and during the day (based on 14 day Average True Range), to move between kr52.80 and kr55.18, which gives a possible trading interval of +/-kr1.19 (+/-2.20%) up or down from last closing price. If Sparebanken Øst takes out the full calculated possible swing range there will be an estimated 4.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr53.50 (0.91%) than the resistance at kr55.00 (1.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sparebanken Øst stock A Buy?

Sparebanken Øst holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.216 Hold/Accumulate Unchanged

Predicted Opening Price for Sparebanken Øst of Friday, June 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.