Norbord Inc Stock Forecast
Norbord Inc stock price up 0.459% on Thursday
(Updated on Apr 25, 2024)
The Norbord Inc stock price gained 0.459% on the last trading day (Thursday, 25th Apr 2024), rising from £392.40 to £394.20. It has now gained 4 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. During the last trading day the stock fluctuated 4.32% from a day low at £384.40 to a day high of £401.00. The price has risen in 7 of the last 10 days and is up by 3.52% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 393 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately £446.39 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.34% during the next 3 months and, with a 90% probability hold a price between £288.43 and £362.41 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OSB.L Signals & Forecast
Mostly positive signals in the chart today. The Norbord Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £385.57 and £392.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 10.05%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Norbord Inc stock
Norbord Inc finds support from accumulated volume at £388.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £16.60 (4.32%) between high and low. For the last week, the stock has had daily average volatility of 3.79%.
Our recommended stop-loss: £376.96 (-4.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (OSB.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Norbord Inc to open at £393.20, and during the day (based on 14 day Average True Range), to move between £379.08 and £409.32, which gives a possible trading interval of +/-£15.12 (+/-3.84%) up or down from last closing price. If Norbord Inc takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £388.40 (1.47%) than the resistance at £445.00 (12.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Norbord Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.722 Buy Candidate Unchanged
Predicted Opening Price for Norbord Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £393.20 ( 0.254%) | £394.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OSB.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 409.80 | 3.96 % | |
| R2 | 403.46 | 2.35 % | ||
| R1 | 399.54 | 1.35 % | ||
| Current price: | 394.20 | |||
| Support | S1 | 386.86 | -1.86 % | |
| S2 | 382.94 | -2.86 % | ||
| S3 | 376.60 | -4.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 450.20 | 14.21 % | |
| R2 | 446.40 | 13.24 % | ||
| R1 | 445.00 | 12.89 % | ||
| Current price | 394.20 | |||
| Support | S1 | 388.40 | -1.47% | |
| S2 | 387.20 | -1.78% | ||
| S3 | 378.60 | -3.96% |
OSB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | May 14, 2024 | £21.80 | 5.56% |
| 2 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | £11.70 | 2.50% |
| 3 | Aug 11, 2022 | Aug 25, 2022 | Sep 21, 2022 | £8.70 | 1.64% |
| 4 | Mar 17, 2022 | Mar 24, 2022 | May 18, 2022 | £21.10 | 4.08% |
| 5 | Aug 19, 2021 | Aug 26, 2021 | Sep 22, 2021 | £4.90 | 0.99% |
FAQ
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