Telenor ASA Stock Forecast
Telenor ASA stock upgraded to Buy Candidate.
(Updated on Mar 27, 2024)
The Telenor ASA stock price gained 1.43% on the last trading day (Wednesday, 27th Mar 2024), rising from kr119.05 to kr120.75. During the last trading day the stock fluctuated 2.28% from a day low at kr120.75 to a day high of kr123.50. The price has risen in 7 of the last 10 days and is up by 7.05% 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, 600 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately kr165.12 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is kr119.61, a level that may pose a second chance to hit a runner. According to fan-theory kr127.77 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TEL.OL Signals & Forecast
Mostly positive signals in the chart today. The Telenor 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 kr118.34 and kr115.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 12, 2024, and so far it has risen 7.33%. 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 Telenor ASA stock
Telenor ASA finds support from accumulated volume at kr118.10 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 kr2.75 between high and low, or 2.28%. For the last week the stock has had daily average volatility of 1.87%.
The Telenor ASA stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: kr115.92 (-4.00%) (This stock has low daily movements and this gives low risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (TEL.OL) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Telenor ASA to open at kr121.67, and during the day (based on 14 day Average True Range), to move between kr118.80 and kr122.70, which gives a possible trading interval of +/-kr1.95 (+/-1.61%) up or down from last closing price. If Telenor ASA takes out the full calculated possible swing range there will be an estimated 3.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr121.35 (0.50%) than the support at kr118.10 (2.19%), 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 Telenor ASA stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.727 Buy Candidate Upgraded
Predicted Opening Price for Telenor ASA of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
kr121.67 ( 0.759%) | kr120.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TEL.OL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 124.42 | 3.04 % | |
R2 | 123.37 | 2.17 % | ||
R1 | 122.72 | 1.63 % | ||
Current price: | 120.75 | |||
Support | S1 | 120.62 | -0.111 % | |
S2 | 119.97 | -0.648 % | ||
S3 | 118.92 | -1.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 124.45 | 3.06 % | |
R2 | 122.15 | 1.16 % | ||
R1 | 121.35 | 0.497 % | ||
Current price | 120.75 | |||
Support | S1 | 118.10 | -2.19% | |
S2 | 116.20 | -3.77% | ||
S3 | 115.45 | -4.39% |
TEL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 08, 2024 | May 08, 2024 | May 22, 2024 | kr5.00 | 4.14% |
2 | May 11, 2023 | May 11, 2023 | May 11, 2023 | kr5.00 | 4.05% |
3 | Oct 06, 2022 | Oct 06, 2022 | Oct 06, 2022 | kr4.30 | 4.53% |
4 | May 12, 2022 | May 12, 2022 | May 12, 2022 | kr5.00 | 3.98% |
5 | Oct 07, 2021 | Oct 07, 2021 | Oct 07, 2021 | kr4.00 | 2.88% |
FAQ
Click here for our free guide on how to buy Telenor ASA Stock.