StrongPoint ASA Stock Forecast
Weaker technical forecast for StrongPoint ASA as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The StrongPoint ASA stock price fell by -1.13% on the last day (Wednesday, 24th Apr 2024) from kr13.25 to kr13.10. During the last trading day the stock fluctuated 3.45% from a day low at kr13.05 to a day high of kr13.50. The price has been going up and down for this period, and there has been a -2.6% loss for the last 2 weeks. 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 -123 thousand shares and in total, 92 thousand shares were bought and sold for approximately kr1.20 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.50% during the next 3 months and, with a 90% probability hold a price between kr10.05 and kr12.13 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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STRO.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.16%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The StrongPoint 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 kr13.11 and kr13.25. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for StrongPoint ASA stock
StrongPoint ASA finds support from accumulated volume at kr13.05 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved kr0.450 between high and low, or 3.45%. For the last week the stock has had daily average volatility of 2.25%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STRO.OL) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect StrongPoint ASA to open at kr13.22, and during the day (based on 14 day Average True Range), to move between kr12.74 and kr13.46, which gives a possible trading interval of +/-kr0.360 (+/-2.75%) up or down from last closing price. If StrongPoint ASA takes out the full calculated possible swing range there will be an estimated 5.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr13.05 (0.38%) than the resistance at kr13.25 (1.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
StrongPoint ASA will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for StrongPoint ASA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.86% in the first trading day after earnings release.
Is StrongPoint ASA stock A Buy?
StrongPoint ASA holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -2.271 Sell Candidate Downgraded
Predicted Opening Price for StrongPoint ASA of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| kr13.22 ( 0.89%) | kr13.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STRO.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.67 | 4.33 % | |
| R2 | 13.49 | 3.01 % | ||
| R1 | 13.39 | 2.20 % | ||
| Current price: | 13.10 | |||
| Support | S1 | 13.04 | -0.422 % | |
| S2 | 12.94 | -1.23 % | ||
| S3 | 12.77 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.85 | 5.73 % | |
| R2 | 13.55 | 3.44 % | ||
| R1 | 13.25 | 1.15 % | ||
| Current price | 13.10 | |||
| Support | S1 | 13.05 | -0.382% | |
| S2 | 13.00 | -0.763% | ||
| S3 | 12.95 | -1.15% |
STRO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | kr0.90 | 3.78% |
| 2 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | kr0.80 | 3.46% |
| 3 | Apr 29, 2021 | Apr 29, 2021 | Apr 29, 2021 | kr0.700 | 2.23% |
| 4 | Oct 23, 2020 | Oct 23, 2020 | Oct 23, 2020 | kr0.600 | 3.23% |
| 5 | Apr 29, 2019 | Apr 29, 2019 | Apr 29, 2019 | kr0.550 | 5.26% |
FAQ
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