Storebrand ASA Stock Forecast
Weaker technical forecast for Storebrand ASA as stock downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The Storebrand ASA stock price gained 0.276% on the last trading day (Friday, 28th Jun 2024), rising from kr108.70 to kr109.00. During the last trading day the stock fluctuated 0.83% from a day low at kr108.50 to a day high of kr109.40. The price has risen in 6 of the last 10 days and is up by 1.11% 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, 166 thousand more shares were traded than the day before. In total, 644 thousand shares were bought and sold for approximately kr70.18 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr108.74 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 17.41% during the next 3 months and, with a 90% probability hold a price between kr127.67 and kr138.67 at the end of this 3-month period.
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STB.OL Signals & Forecast
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. The Storebrand ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr109.34 and kr110.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -3.96%. 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).
Support, Risk & Stop-loss for Storebrand ASA stock
Storebrand ASA finds support from accumulated volume at kr108.60 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 kr0.90 between high and low, or 0.83%. For the last week the stock has had daily average volatility of 1.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STB.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Storebrand ASA to open at kr108.97, and during the day (based on 14 day Average True Range), to move between kr107.50 and kr110.50, which gives a possible trading interval of +/-kr1.50 (+/-1.37%) up or down from last closing price. If Storebrand ASA takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr108.60 (0.37%) than the resistance at kr109.50 (0.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Storebrand ASA stock A Buy?
The Storebrand ASA stock holds several negative signals and despite the positive trend, we believe Storebrand ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.514 Sell Candidate Downgraded
Predicted Opening Price for Storebrand ASA of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr108.97 ( 0.0306%) | kr109.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STB.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 109.87 | 0.795% |
| R2 | 109.52 | 0.480% |
| R1 | 109.31 | 0.285% |
| Price | 109.00 | |
| S1 | 108.62 | -0.346% |
| S2 | 108.41 | -0.541% |
| S3 | 108.07 | -0.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 113.40 | 4.04% |
| R2 | 112.20 | 2.94% |
| R1 | 109.50 | 0.459% |
| Price | 109.00 | |
| S1 | 108.60 | -0.367% |
| S2 | 105.20 | -3.49% |
| S3 | 95.00 | -12.84% |
STB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | Apr 16, 2024 | kr4.10 | 4.35% |
| 2 | Apr 14, 2023 | Apr 14, 2023 | Apr 14, 2023 | kr3.70 | 4.57% |
| 3 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | kr3.50 | 4.24% |
| 4 | Apr 09, 2021 | Apr 09, 2021 | Apr 09, 2021 | kr3.25 | 3.94% |
| 5 | Apr 23, 2020 | Apr 23, 2020 | Apr 23, 2020 | kr3.25 | 7.43% |
FAQ
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