Frontline PLC

Company Overview: Frontline PLC (NYSE: FRO) is a Cyprus-based company primarily engaged in the transportation industry, with a primary focus on the maritime transport of crude oil and refined products. The company owns and manages a fleet of various tankers, including VLCC, Suezmax, and LR2/Aframax vessels, designed for the transport of oil and cargo. FRONTLINE PLC operates on a global scale.

As per our previous US Dividend Income Report published on ‘FRO’ on 11^th December 2024, Kalkine provided a ‘Buy’ stance on the stock at USD 14.83 based on “decent fundamentals, recent financial performance, solid cash flow, young and energy efficient fleet, successful refinancing initiatives, and a robust liquidity position” and the stock price has now moved by ~16.72% since then and attained resistance 1.

Noted below are the details of support and resistance levels provided in our previous report:

FRO’s Daily Chart

Considering the current trading levels, risks associated, resistance 1 attainment, a ‘Sell’ rating is assigned to the “FRO” at the current market price of USD 17.31 (as of January 10, 2025, at 06:40 am PST). 

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is January 10, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’