TGS NOPEC Geophysical Co ASA Stock Forecast

Green day on Thursday for TGS NOPEC Geophysical Co ASA stock after gaining 2.91%
(Updated on May 16, 2024)

TGS.OL Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The TGS NOPEC Geophysical Co ASA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr124.45. On a fall, the stock will find some support from the short-term average at kr119.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -11.86%. 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 TGS NOPEC Geophysical Co ASA stock

TGS NOPEC Geophysical Co ASA finds support from accumulated volume at kr119.30 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 kr4.90 between high and low, or 4.24%. For the last week, the stock has had daily average volatility of 3.21%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (TGS.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect TGS NOPEC Geophysical Co ASA to open at kr118.77, and during the day (based on 14 day Average True Range), to move between kr116.14 and kr124.66, which gives a possible trading interval of +/-kr4.26 (+/-3.54%) up or down from last closing price. If TGS NOPEC Geophysical Co ASA takes out the full calculated possible swing range there will be an estimated 7.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr121.10 (0.58%) than the support at kr119.30 (0.91%), 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 TGS NOPEC Geophysical Co ASA stock A Buy?

The TGS NOPEC Geophysical Co ASA stock holds several negative signals and despite the positive trend, we believe TGS NOPEC Geophysical Co ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.593 Sell Candidate Unchanged

Predicted Opening Price for TGS NOPEC Geophysical Co ASA of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.