FPM.L stock - Faroe Petroleum

Exchange: XLON

Fri 16'th Nov 2018

PERIOD 2018-08-17 - 2018-11-16
CHANGE 0.00%
PRICE £148.20
VOLUME
Sell
TREND
Hold

MV LONG
Sell

MV SHORT
Sell

PIVOT
Buy

MACD
Buy
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Faroe Petroleum Stock Analysis

Technical stock analysis for Fri 16'th Nov 2018

Hold candidate since 2018-11-09

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 0% change for the last 2 weeks.

Trend

Faroe Petroleum is the lower part of a wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at £146.90 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect Faroe Petroleum with 90% probability to be traded between £144.25 and £165.92 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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Signals

A buy signal was issued from a pivot bottom point on Tuesday October 23, 2018, which indicates further gains 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. Faroe Petroleum holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 £148.20 and £152.86. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

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Relative Strength Index (RSI)

RSI14 is 50 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

Faroe Petroleum finds support from accumulated volume at £144.00.

Support: £144.00 Price: £148.20 Resistance: £154.00

Risk

This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.00 between high and low, or 0.00%. For the last week the stock has had a daily average volatility of 0.00%.

Our recommended stoploss: £139.31 (-6.00%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 18 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Faroe Petroleum holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development.

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