Analysis of the Week with Stock Tips from StockCharts365. com

In this ‘Analysis of the Week’ from StockCharts365. com, we take a closer look at an interesting shipping company on the Oslo Stock Exchange: Avance Gas Holding Ltd (ticker on Oslo Børs: AGAS).

The overall technical view for Avance Gas Holding signals that the stock may now be on the verge of a further strong rise going forward, and within the long-term rising trend that the stock has been in since the beginning of 2022.

The stock has had a downward correction in the short term, but now the stock is triggering new positive technical signals for further development, and within a long-term upward trend.

Read on below for the full technical analysis from StockCharts365.com!
And if you’re wondering about the Investment School, it’s back again in week 32. That is, next week.

Some facts about Avance Gas Holding (ticker on Oslo Stock Exchange: AGAS)

Avance Gas Holding Ltd (“Avance Gas”) operates in the global liquefied petroleum gas (LPG) transportation market.
The company is one of the world’s leading owners and operators of very large gas carriers (VLGCs) and operates a fleet of fourteen vessels and two Dual Fuel LPG new buildings to be delivered in 2024 and four Dual Fuel Medium Gas Carriers (MGCs) in service to carry LPG and ammonia as cargo. For more information about the company, please visit their website here.

Technical Analysis of Avance Gas Holding Ltd. (ticker on Oslo Børs: AGAS)

The Avance Gas Holding (AGAS) share is showing a strong development within a long-term upward trend, and further growth is signaled for the share within this upward trend both in the short and medium term. The stock has had a correction in the short term, and within a falling wedge consolidation formation, from which the stock is now breaking upwards.

This provides positive technical signals for further price development in the short and medium term.
Various momentum indicators such as RSI, Stochastics and MACD support these positive technical signals, and they also signal further growth for the Avance Gas Holding (AGAS) share in the short and medium term.

The stock has been down testing the 200-day moving average support level, and has been well received there at this important technical support level. A break above the 50-day moving average now seems likely in the short term and would trigger new positive technical signals for the stock.

Further price increase for Avance Gas Holding in the short and medium term

Overall, the Avance Gas Holding (AGAS) share appears very positive technically at the moment, and further price increases are signaled for the share in the short and medium term, and within the long-term upward trend that the share has moved within since the beginning of 2022 (cf. weekly chart). The potential for the share, and according to the long-term rising trend, is estimated to be around NOK 250.00 – 300.00 in 6-12 months’ time. The share was traded 30. July 2024, at a share price of around NOK 168.40.

With a stop-loss at, for example, NOK 140.00, and a potential for the share (as assessed by StockCharts365.com) of around NOK 250.00 – 300.00, and with today’s share price of around NOK 168.00.

Yes, StockCharts365.com considers the Avance Gas Holding (AGAS) share to be an exciting buy candidate with a very good Risk-Reward ratio!

Vikingen Financial Software would like to remind you that past positive results do not always indicate future profits and that all trading is at your own risk.

Sincerely, Catrin Abrahamsson-Beynon