Subsea 7 SA Stock Forecast
Stronger technical forecast for Subsea 7 SA stock price after Thursday trading.
(Updated on May 16, 2024)
The Subsea 7 SA stock price gained 1.84% on the last trading day (Thursday, 16th May 2024), rising from kr185.20 to kr188.60. During the last trading day the stock fluctuated 1.94% from a day low at kr185.10 to a day high of kr188.70. The price has risen in 7 of the last 10 days and is up by 4.66% 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, 821 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately kr226.56 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 kr185.98 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 27.39% during the next 3 months and, with a 90% probability hold a price between kr236.93 and kr255.21 at the end of this 3-month period.
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SUBC.OL Signals & Forecast
Mostly positive signals in the chart today. The Subsea 7 SA 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 kr186.13 and kr179.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 8.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Subsea 7 SA stock
Subsea 7 SA finds support from accumulated volume at kr182.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr3.60 (1.94%) between high and low. For the last week, the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: kr179.56 (-4.79%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (SUBC.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Subsea 7 SA to open at kr187.47, and during the day (based on 14 day Average True Range), to move between kr184.63 and kr192.57, which gives a possible trading interval of +/-kr3.97 (+/-2.10%) up or down from last closing price. If Subsea 7 SA takes out the full calculated possible swing range there will be an estimated 4.21% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr182.00, some kr6.60 (3.50%) from the current price of kr188.60, our system finds the risk reward attractive.
Is Subsea 7 SA stock A Buy?
Subsea 7 SA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.159 Strong Buy Candidate Upgraded
Predicted Opening Price for Subsea 7 SA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr187.47 ( 0.601%) | kr188.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUBC.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 191.07 | 1.31 % | |
| R2 | 189.69 | 0.579 % | ||
| R1 | 188.84 | 0.128 % | ||
| Current price: | 188.60 | |||
| Support | S1 | 186.09 | -1.33 % | |
| S2 | 185.24 | -1.78 % | ||
| S3 | 183.87 | -2.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 188.60 | |||
| Support | S1 | 182.00 | -3.50% | |
| S2 | 169.85 | -9.94% | ||
| S3 | 154.95 | -17.84% |
SUBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 30, 2024 | Oct 30, 2024 | Nov 07, 2024 | kr3.00 | 1.59% |
| 2 | May 06, 2024 | May 06, 2024 | May 06, 2024 | kr0 | 0% |
| 3 | Apr 20, 2023 | Apr 20, 2023 | Apr 20, 2023 | kr3.00 | 2.55% |
| 4 | Apr 28, 2022 | Apr 28, 2022 | Apr 28, 2022 | kr1.00 | 1.28% |
| 5 | Apr 29, 2021 | Apr 29, 2021 | Apr 29, 2021 | kr2.00 | 2.37% |
FAQ
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