Equinor ASA (EQNR): We’ve Only Just Begun

The stock of Equinor ASA (NYSE:EQNR) has been Upgraded to Outperform from Underperform by Credit Suisse in its latest research note that was published on September 04. Goldman analysts bumped their recommendation on EQNR stock from Sell to Neutral in a separate flash note to investors on August 02. Analysts at Bernstein issued an upgrade fromMkt Perform to Outperform for the stock, in a research note that dated back to July 02.

Equinor ASA, which has current market capitalization of above $65 Billion, published its last quarter earnings on June 30, 2019.

EQNR surged by $0.51 during the normal trading session on Wednesday and reaching a high of $19.47 during the day while it closed the day at $19.20. The Equinor stock had a high trading volume of 4.90 million shares on that day, which is high compared to the average daily volume of 1.72M shares. EQNR has also gained 11.56% of its value over the past 7 days. However, the stock has declined by 0.62% in the 3 months of the year. Over the past six months meanwhile, it has lost 14.82% while it has lost 9.31% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -6.39% from its 3 months high price. However, taking another look at EQNR will indicate that it is trading +18.23% away from its 90-day low. Looking at the bigger picture, the Equinor ASA stock has dropped by -33.63% from its 52-week high while it has surged by +18.23% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 69.32%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 91.78%. Over the past 20 days, Equinor’s Stochastic %K stood at 92.16% while its Stochastic %D was revealed to be 90.41%.