SpareBank 1 SR-Bank ASA Stock Forecast
Weaker technical forecast for SpareBank 1 SR-Bank ASA as stock downgraded to Buy Candidate.
(Updated on May 16, 2024)
The SpareBank 1 SR-Bank ASA stock price gained 0.432% on the last trading day (Thursday, 16th May 2024), rising from kr139.00 to kr139.60. During the last trading day the stock fluctuated 1.45% from a day low at kr138.00 to a day high of kr140.00. The price has risen in 7 of the last 10 days and is up by 3.56% over the past 2 weeks. Volume fell on the last day by -96 thousand shares and in total, 106 thousand shares were bought and sold for approximately kr14.85 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 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 6.54% during the next 3 months and, with a 90% probability hold a price between kr138.73 and kr155.22 at the end of this 3-month period.
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SRBNK.OL Signals & Forecast
The SpareBank 1 SR-Bank 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 kr139.40 and kr135.81. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. 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 -1.41%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Monday, May 13, 2024 and based on theory for this formation the price should fall by -11.65% to kr123.33 within 21 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for SpareBank 1 SR-Bank ASA stock
SpareBank 1 SR-Bank ASA finds support from accumulated volume at kr139.00 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr2.00 between high and low, or 1.45%. For the last week, the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: kr134.88 (-3.38%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (SRBNK.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect SpareBank 1 SR-Bank ASA to open at kr139.20, and during the day (based on 14 day Average True Range), to move between kr137.18 and kr142.02, which gives a possible trading interval of +/-kr2.42 (+/-1.73%) up or down from last closing price. If SpareBank 1 SR-Bank ASA takes out the full calculated possible swing range there will be an estimated 3.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr140.00 (0.29%) than the support at kr139.00 (0.43%), 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 SpareBank 1 SR-Bank 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 SpareBank 1 SR-Bank ASA stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.515 Buy Candidate Downgraded
Predicted Opening Price for SpareBank 1 SR-Bank ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr139.20 ( 0.287%) | kr139.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRBNK.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 141.20 | 1.15 % | |
| R2 | 140.44 | 0.599 % | ||
| R1 | 139.96 | 0.261 % | ||
| Current price: | 139.60 | |||
| Support | S1 | 138.44 | -0.83 % | |
| S2 | 137.96 | -1.17 % | ||
| S3 | 137.20 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 141.60 | 1.43 % | |
| R2 | 140.60 | 0.716 % | ||
| R1 | 140.00 | 0.287 % | ||
| Current price | 139.60 | |||
| Support | S1 | 139.00 | -0.430% | |
| S2 | 134.80 | -3.44% | ||
| S3 | 134.60 | -3.58% |
SRBNK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 19, 2024 | Apr 26, 2024 | kr7.50 | 5.73% |
| 2 | Apr 14, 2023 | Apr 14, 2023 | Apr 14, 2023 | kr7.00 | 5.85% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | kr6.00 | 5.00% |
| 4 | Oct 06, 2021 | Oct 06, 2021 | Oct 06, 2021 | kr3.10 | 2.57% |
| 5 | Mar 12, 2021 | Mar 12, 2021 | Mar 12, 2021 | kr5.50 | 5.22% |
FAQ
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