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Euronav NV (EURN)

Euronav stock forecast: buy or sell

Close on Sep 28th, 2020
$8.68 -0.02%
3 months performance
0.14%
Published: September 29th, 2020 - 6.46am EDT

Euronav stock outlook

  • Euronav closed yesterday at $8.68 (-2.14%) prior to presenting earnings at
  • Euronav NV, together with its subsidiaries, engages in the shipping and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services.

Disclaimer:
The opinions published in this post are personal and not recommendations for you to buy or sell stocks. The author of this document does not know the specific circumstances of the reader, his or her financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are posted for learning purposes only

Euronav stock charts

Should I buy Euronav stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is EURN stock a buy?

In the current situation of Euronav there is not any eligible buy setup. This doesn't mean we expect a selloff for EURN in coming sessions, or that it may not climb higher. Simply, it doesn't match our recommended trading systems

Should I sell Euronav stock?

"To sell or not to sell", if you are holding Euronav stock?. Like when we have to buy shares, determining when is appropiate time to sell is not a random decision, and we must use our own trading style. When selling, as well as buying, detailed setups are very simple to follow but are only applicable for selling stocks you already own, not for selling short Euronav stock

A golden rule is that you should never hold a trade that shows a losses greater than those expected by the time of purchase. The moment to sell your stock always has to be determined by the stop-loss (automatic or manual)

Is it time to sell Euronav stock?

Currently, Euronav stock doesn't match any of our preferred sell setups, so if you hold Euronav shares and your operation is in profit probably is not time to sell now

Analysts' recommendations to buy or sell Euronav stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the previous month we couldn't find any rating for Euronav

Technical analysis

SMAs overview

Moving averages are indicators for investors to gauge stock momentum. A moving average is the average price of a stock over a set period of time. Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days

EURN SMAs chart

Supports and resistances

Technical analysts use supports and resistances as a way to identify price points in the stock price action that may behave as glass ceiling, preventing the price of shares to move up or down. Supports are levels where the price tends to find support as it falls. Price is more likely to "rebound" this level rather than break through it. Nevertheless, if the price breaks down this level, it is likely to continue descending until meeting another support level. On the other hand, resistances are where the price tends to find a curb as it rises. In the same way, this means that the price is more likely to "bounce off" at this level, and if it finally breaks this level, it will rally easily until it finds the next resistance

The current resistance levels are:

  • R1: $9.20 (5.99% above)
  • R2: $9.25 (6.57% above)
  • R3: $9.76 (12.44% above)
  • The current supports are:

  • S1: $8.66 (-0.23% below)
  • S2: $8.51 (-1.96% below)
  • S3: $8.39 (-3.34% below)
  • Bollinger bands

    So-called Bollinger bands are a popular practice developed by John Bollinger. It is made up of 3 bands that are plotted superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    EURN RSI chart

    Relative strength index

    The RSI (Relative Strength Index) is an oscillator-type indicator that gauges price movements to spot when the price of a share or financial asset is overbought or oversold. Like other oscillation indicators, the RSI fluctuates between 0% and 100%. J. Welles Wilder introduced the relative strength indicator in the late 1970s and since then it has been widely used by traders

    The RSI dropped below the overbought level of 70 in mid-August after just crossing to the overbough zone for 1 day (weak signal). The RSI reading yesterday was 39.1. Since RSI lost the overbought zone, Euronav stock sank a 11.7%

    EURN RSI chart

    Earnings and financials

    In early August, Euronav hosted the investors call and presented the 2nd-quarter report. The Wall St estimate is a an EPS of $1.16, that is a 33.33% higher than previous reported quarter. Euronav reported 2nd-quarter earnings of $1.21 per share versus analysts estimate that was $1.16.

    This compares to earnings of $-0.18 per share same quarter last year, so posted EPS is an increase of 772.22%. Looking at turnover, figures skyrocketed a 156.69% compared to $169.3M year over year.

    Euronav is presenting financial report. Financial reporting day has a more than usual risk for stock traders as the information published can soar and sink the shares price with exceptionally low liquidity and not respecting your buy/stop-loss orders. You can probably uncover more information about the earnings conference call and the financial reports on the Investor Relations section of its website: http://www.euronav.com.

    EURN revenues and profits chart