Norbord Inc Forecast and Stock Analysis
Technical OSB.L stock analysis for February 15, 2019.
|Shorts||13.68% ( 2019-01-31 )|
Norbord Inc gained 1.04% in the last trading day, rising from £364.00 to £367.80 The price has been going up and down for this period, and there has been a -0.97% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 117 601 more shares were traded than the day before. In total, 539 336 shares bought and sold for approximately £198.37 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the OSB.L stock was £367.80. This is 1.04% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 4.22% from a day low at £355.60 to a day high of £370.60.
30 day high of the OSB.L stock price was £397.20 and low was £355.60.
90 day high was £397.20 and low was £327.40.
52 week high for the Norbord Inc - £453.60 and low - £327.40.
Norbord Inc lies in the middle of a wide and strong 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 13.01% during the next 3 months and, with 90% probability hold a price between £403.60 and £454.71 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday February 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Norbord Inc 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 £371.00 and £371.61. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 33 and the stock is currently not being overbought or oversold
Support & Resistance
Norbord Inc finds support from accumulated volume at £355.80.
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 £15.00 (4.22%) between high and low. For the last week, the stock has had a daily average volatility of 3.50%.
Our recommended stoploss: £345.06 (-6.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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Norbord Inc 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. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Hold/Accumulate.