SpareBank 1 SR-Bank 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
Red day on Friday for SpareBank 1 SR-Bank ASA stock after losing 0.295%
(Updated on May 24, 2024)
The SpareBank 1 SR-Bank ASA stock price fell by -0.295% on the last day (Friday, 24th May 2024) from kr135.80 to kr135.40. During the last trading day the stock fluctuated 0.742% from a day low at kr134.80 to a day high of kr135.80. The price has risen in 6 of the last 10 days but is still down by -1.88% for this period. 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 -64 thousand shares and in total, 126 thousand shares were bought and sold for approximately kr17.02 million.
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 5.14% during the next 3 months and, with a 90% probability hold a price between kr136.91 and kr152.96 at the end of this 3-month period.
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SRBNK.OL Signals & Forecast
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. The SpareBank 1 SR-Bank ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr137.09 and kr135.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -4.38%. 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.
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 -8.91% to kr123.33 within 21 trading days since signal was issued (Tuesday, May 28, 2024).
Support, Risk & Stop-loss for SpareBank 1 SR-Bank ASA stock
SpareBank 1 SR-Bank ASA finds support from accumulated volume at kr134.80 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 kr1.00 between high and low, or 0.742%. For the last week, the stock has had daily average volatility of 1.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SRBNK.OL) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect SpareBank 1 SR-Bank ASA to open at kr135.33, and during the day (based on 14 day Average True Range), to move between kr133.03 and kr137.77, which gives a possible trading interval of +/-kr2.37 (+/-1.75%) 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 3.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr136.00 (0.44%) than the support at kr134.80 (0.44%), 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?
The SpareBank 1 SR-Bank ASA stock holds several negative signals and despite the positive trend, we believe SpareBank 1 SR-Bank ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.134 Sell Candidate Unchanged
Predicted Opening Price for SpareBank 1 SR-Bank ASA of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| kr135.33 ( 0.0492%) | kr135.40 |
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 | 136.33 | 0.689 % | |
| R2 | 135.95 | 0.407 % | ||
| R1 | 135.72 | 0.233 % | ||
| Current price: | 135.40 | |||
| Support | S1 | 134.95 | -0.331 % | |
| S2 | 134.72 | -0.506 % | ||
| S3 | 134.33 | -0.788 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 139.00 | 2.66 % | |
| R2 | 136.40 | 0.739 % | ||
| R1 | 136.00 | 0.443 % | ||
| Current price | 135.40 | |||
| Support | S1 | 134.80 | -0.443% | |
| S2 | 134.60 | -0.591% | ||
| S3 | 134.40 | -0.739% |
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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