put a straight edge on the bottoms on the long term chart: october 2011, june 2012, november 2012, march 2013. also the past two weeks five attempts to break below 24.08 failed, with the past two days showing increasing price and volume over the low 2 days price. also Thursday the indexes were down but statoil was up. anything can happen and statoil could go to 22, but it would likely be with the rest of the market going down. this is just as likely where statoil in the us adr once again follows it's long term trend (which has been lagging for 2 years) and breaks away from exxon, the other oil and gas companies, and the broader markets.
statoil can easily double, still return a 2% dividend-which is more than the no dividend paid by many loser stocks. right now if you pick up statoil with a 4% return, you stand to gain over 40% in 10 years plus the price appreciation. for now green fuel lags and gasoline is the fuel. for now natural gas is fuel, and it will take awhile to be supplanted by a green breakthrough. a green breakthrough would be the death of oil and gas.
A short-term chart shows an ascending triangle with accumulation volume. Very bullish pattern: check the Yahoo point and figure chart for a really good visual confirmation. Also, the Krone might stabilize here after a period of devaluation vs. the dollar.