Meanwhile, Jefferies downgraded its Golden Ocean Group Limited [GOGL] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including BTIG Research’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Neutral”. Jefferies also remained covering GOGL and has increased its forecast on October 24, 2023 with a “Buy” recommendation from previously “Hold” rating. Jefferies revised its rating on September 26, 2022. It rated GOGL as “a Hold” which previously was an “a Buy”.
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Price Performance Review of GOGL
On Tuesday, Golden Ocean Group Limited [NASDAQ:GOGL] saw its stock fall -4.33% to $12.83. Over the last five days, the stock has lost -7.36%. Golden Ocean Group Limited shares have risen nearly 31.45% since the year began. Nevertheless, the stocks have risen 65.98% over the past one year. While a 52-week high of $15.77 was reached on 05/21/24, a 52-week low of $6.89 was recorded on 01/09/24. SMA at 50 days reached $13.94, while 200 days put it at $10.61. A total of 2.78 million shares were traded, compared to the trading of 0.98 million shares in the previous session.
Levels Of Support And Resistance For GOGL Stock
The 24-hour chart illustrates a support level at 12.61, which if violated will result in even more drops to 12.39. On the upside, there is a resistance level at 12.99. A further resistance level may holdings at 13.15. The Relative Strength Index (RSI) on the 14-day chart is 32.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.86%. Stochastics %K at 6.19% indicates the stock is a buying.
The most recent change occurred on July 21, 2022 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $14 price target.
