Fri 20'th Jul 2018
Faroe Petroleum Stock Analysis
Technical stock analysis for Fri 20'th Jul 2018
Faroe Petroleum gained 0.28% in the last trading day, rising from £143.00 to £143.40 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days , but is still down by -1.51% for this period. Volume fell in the last day by -115 545 shares, and in total, 348 145 shares bought and sold for approximately £49.92 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Faroe Petroleum lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at £140.97 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.5% during the next 3 months and, with 90% probability hold a price between £152.96 and £174.67 at the end of this period.
A buy signal was issued from a pivot bottom point on Wednesday July 18, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and 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. Faroe Petroleum holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at £144.69 and £144.58. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 44 and the stock is currently not being overbought or oversold
Support & Resistance
Faroe Petroleum finds support from accumulated volume at £143.00.
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 £3.00 (2.13%) between high and low. For the last week, the stock has had a daily average volatility of 3.47%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The Faroe Petroleum stock holds several negative signals and despite the positive trend we believe Faroe Petroleum will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Click for Top 5 Sell Candidates
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