Faroe Petroleum Stock Analysis
Technical stock analysis for 18 January 2019
No changes to the price of Faroe Petroleum in the last trading day. The price has been going up and down for this period, and there has been a 4.03% gain for the last 2 weeks.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the FPM.L stock was £160.00.
During day the stock fluctuated 0.25% from a day low at £160.00 to a day high of £160.40.
30 day high of the FPM.L stock price was £161.80 and low was £140.00.
90 day high was £161.80 and low was £122.40.
52 week high for the Faroe Petroleum - £177.20 and low - £91.10.
Faroe Petroleum lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.87% during the next 3 months and, with 90% probability hold a price between £146.16 and £187.22 at the end of this period.
A sales signal was issued from a pivot top point on Wednesday January 16, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention for the next couple of days. Some positive signals were issued as well, and these may have some influence on the near short-term development. Faroe Petroleum holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately £160.14. On a fall, the stock will find some support from the long-term average at approximately £154.23. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 86 and the stock is currently not being overbought or oversold
Support & Resistance
Faroe Petroleum finds support from accumulated volume at £159.60.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £0.40 (0.25%) between high and low. For the last week, the stock has had a daily average volatility of 0.58%.
The stock is extremely overbought on RSI14 (86). This increases the short-term risk substantially.
Our recommended stoploss: £153.77 (-3.89%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)
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Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, for the wholesome period, we think that today's level holds a possible buying-opportunity and that the price will be higher during or at the end of this 3-month period.